Ebene Magazine – The Bank of Montreal (NYSE: BMO) hits a new 52-week high after announcing the dividend

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The shares of Bank of Montreal (NYSE: BMO) (TSE: BMO) hit during Mid on Thursday -Day trading a new 52-week high after the company announced a dividend. The stock traded as high as $ 86.58 and was last trading at $ 85.99 with a volume of 2,351 shares. The stock previously closed at $ 86.25. The newly announced dividend will be paid on Wednesday, May 26th. On Monday, May 3rd, a dividend of $ 0.8402 will be paid to shareholders of record. This is a positive change from the Bank of Montreal’s previous quarterly dividend of $ 0.80. The ex-dividend day is Friday April 30th. This equates to an annualized dividend of $ 3.36 and a yield of 3.93%. The Bank of Montreal’s payout ratio is currently 58.12%.

BMO was the subject of several analyst reports. Canaccord Genuity gave a « buy » rating in a research note on Wednesday with a price target of $ 112.50 (previously $ 106.50) on shares in Bank of Montreal. BMO Capital Markets raised the price target for the Bank of Montreal from USD 102.00 to USD 113.00 and rated the share in a research report on Wednesday with « sector performance ». In a research report on Thursday, November 19, CIBC upgraded the Bank of Montreal to an « Outperformer » rating and raised its price target for the share from USD 95.00 to USD 108.00. Zacks Investment Research upgraded the Bank of Montreal from a « hold » rating to a « buy » rating in a research report on Wednesday, February 17th, and set a price target of $ 87.00 on the stock. Finally, Barclays raised its target price for the Bank of Montreal from USD 88.00 to USD 96.00 and rated the stock as underweight in a research report on Tuesday, February 16. One analyst gave the stock a sell rating, five gave it a hold rating and five gave the stock a buy rating. The Bank of Montreal currently has an average « Hold » rating and an average price target of USD 93.39 (adsbygoogle = window.adsbygoogle || []). Push ({});

The stock has a 50-day moving average of $ 77.59 and a 200-day moving average of $ 68.63. The company has a market capitalization of $ 55.33 billion, value for money of 15.32, value for money of 1.51, and a beta of 1.29. The company has a leverage ratio of 0.17, a fast rate of 0.98, and a current rate of 0.98.

The Bank of Montreal (NYSE: BMO) (TSE: BMO) last announced its results on Monday, February 22nd. The bank reported earnings per share of $ 3.06 for the quarter, beating Zacks’ consensus estimate of $ 1.66 by $ 1.40. The Bank of Montreal achieved a return on equity of 10.69% and a net margin of 14.82%. The company had revenue of $ 6.37 billion for the quarter, compared to analyst estimates of $ 5.96 billion. For the same quarter last year, the company posted earnings of $ 2.41 per share. Bank of Montreal revenue increased 5.7% for the quarter year over year. Sell-side analysts assume that the Bank of Montreal will post an EPS of 6.48 for the current fiscal year.

Institutional investors recently changed their positions in the stock. NN Investment Partners Holdings N.V. increased its position in the Bank of Montreal by 11.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 108,354 shares in the bank valued at $ 8,238,000 after purchasing an additional 10,898 shares last quarter. International Assets Investment Management LLC bought a new position in Bank of Montreal for approximately $ 26,000 in the fourth quarter. Envestnet Asset Management Inc. increased its stake in Bank of Montreal by 3.7% in the third quarter. Envestnet Asset Management Inc. now owns 30,944 shares in the bank, valued at $ 1,807,000, after purchasing an additional 1,110 shares last quarter. Todd Asset Management LLC increased its stake in Bank of Montreal by 3.6% in the fourth quarter. Todd Asset Management LLC now owns 312,770 shares in the bank valued at $ 23,780,000 after purchasing an additional 10,786 shares last quarter. Finally, Raymond James & Associates increased its stake in Bank of Montreal by 3.2% in the third quarter. Raymond James & Associates now owns 93,151 shares in the bank, valued at $ 5,443,000, after purchasing an additional 2,919 shares last quarter. Institutional investors and hedge funds currently hold 39.18% of the company’s shares.

The Bank of Montreal offers diversified financial services primarily in North America. The company’s personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advisory services. Commercial banking products and services include business deposit accounts, business credit cards, business and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial bank customers.

This instant messaging alert was created through narrative science technology and Financial data generated by MarketBeat to give readers the fastest, most accurate reporting. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]

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Bank of Montreal (NYSE: BMO) hits new 52-week high after dividend announcement

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