Bank of Montreal (TSE:BMO) to Issue Dividend Increase – $1.59 Per Share

Bank of Montreal (TSE:BMO) (NYSE:BMO) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Thursday, January 30th will be paid a dividend of 1.59 per share by the bank on Wednesday, February 26th. This represents a $6.36 annualized dividend and a dividend yield of 4.55%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55.

Bank of Montreal Stock Up 4.2 %

Shares of BMO opened at C$139.73 on Friday. The company has a market capitalization of C$101.92 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 52-week low of C$109.02 and a 52-week high of C$140.33. The stock has a 50 day moving average price of C$128.38 and a 200 day moving average price of C$121.59.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

BMO has been the subject of a number of research analyst reports. CIBC upped their target price on Bank of Montreal from C$120.00 to C$134.00 in a research report on Tuesday, November 26th. Scotiabank raised their target price on shares of Bank of Montreal from C$112.00 to C$147.00 in a research report on Monday, November 25th. Desjardins reduced their price target on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. Cormark lowered their price objective on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group dropped their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$128.50.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.