Bank of Montreal (TSE:BMO) Sets New 12-Month High on Analyst Upgrade

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO shares reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$187.00 to C$191.00. The company traded as high as C$185.88 and last traded at C$185.51, with a volume of 709227 shares changing hands. The stock had previously closed at C$184.56.Get Bank of Montreal alerts:How to Invest in Canada for Beginners: Tips for Easy InvestingSeveral other brokerages have also issued reports on BMO. Canaccord Genuity Group upped their price target on Bank of Montreal from C$192.00 to C$201.00 in a research note on Friday, December 5th. Barclays upped their target price on Bank of Montreal from C$177.00 to C$181.00 and gave the stock an "equal weight" rating in a research report on Friday, December 5th. Bank of America increased their target price on Bank of Montreal from C$179.00 to C$183.00 in a report on Friday, December 5th. CIBC lifted their price target on shares of Bank of Montreal from C$192.00 to C$199.00 and gave the company an "outperform" rating in a research report on Thursday, December 11th. Finally, Raymond James Financial upped their price objective on shares of Bank of Montreal from C$182.00 to C$183.00 in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$183.08.Check Out Our Latest Stock Report on Bank of MontrealBank of Montreal Trading Up 0.7%The stock has a fifty day moving average of C$177.06 and a two-hundred day moving average of C$170.01. The company has a market capitalization of C$131.78 billion, a PE ratio of 16.25, a PEG ratio of 0.71 and a beta of 1.39. Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last posted its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 EPS for the quarter. The company had revenue of C$9.34 billion during the quarter. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. Equities analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current year. Bank of Montreal Announces DividendThe company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Montreal's dividend payout ratio is 56.29%. Bank of Montreal Company Profile (Get Free Report)Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets. Read MoreFive stocks we like better than Bank of MontrealA U.S. “birthright” claim worth trillions - activated quietlyA month before the crashDo not delete, read immediatelyHow a Family Trust May Be Able To Help Preserve Your WealthYour Bank Account Is No Longer SafeThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Bank of Montreal Right Now?Before you consider Bank of Montreal, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Montreal wasn't on the list.While Bank of Montreal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here