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Bank of Montreal (TSX:BMO) is up 10% in the past month. Investors who missed the bounce are wondering if BMO stock is still undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) focused on dividends and total returns.
BMO stock price
Bank of Montreal trades near $123 per share at the time of writing. The stock slipped as low as $102 in the past year, but is way off the $150 it reached in early 2022.
In early February 2023, Bank of Montreal bolstered its American business with its US$16.3 billion purchase of Bank of the West, a California-based regional bank. The deal was announced in late 2021 when bank stocks were near their post-pandemic highs. The acquisition closed right before chaos hit the American regional bank sector. This is one reason investors might have soured on BMO stock in the past year.
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