Bank of Montreal (TSE:BMO) Director Sells C$1,601,592.91 in Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) Director William Darryl White sold 11,376 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91.

Bank of Montreal Stock Down 0.2 %

Shares of BMO traded down C$0.26 during mid-day trading on Friday, reaching C$141.00. 3,903,714 shares of the company’s stock were exchanged, compared to its average volume of 2,891,852. Bank of Montreal has a 52-week low of C$109.02 and a 52-week high of C$147.54. The company has a 50-day simple moving average of C$130.55 and a two-hundred day simple moving average of C$122.09. The company has a market cap of C$102.85 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 4.51%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.55. Bank of Montreal’s payout ratio is presently 71.35%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Securities increased their target price on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Cormark cut their price target on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Canaccord Genuity Group raised their price target on Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$134.00 to C$150.00 in a research report on Friday, December 6th. Finally, Scotiabank raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$147.00 to C$160.00 in a research note on Friday, December 6th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$131.33.

About Bank of Montreal

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.