Bank of Montreal (TSE:BMO) Sets New 1-Year Low on Insider Selling

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week low on Monday following insider selling activity. The company traded as low as C$0.01 and last traded at C$148.75, with a volume of 622869 shares trading hands. The stock had previously closed at C$148.76.

Specifically, Senior Officer Nadim Hirji sold 3,238 shares of Bank of Montreal stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$148.87, for a total value of C$482,024.87.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BMO shares. Desjardins boosted their price objective on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. National Bankshares increased their target price on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price target on Bank of Montreal from C$140.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Finally, Scotiabank cut their price objective on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$149.31.

Bank of Montreal Trading Down 2.2 %

The business’s 50 day simple moving average is C$142.66 and its two-hundred day simple moving average is C$131.91. The firm has a market capitalization of C$104.43 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Bank of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 4.41%. Bank of Montreal’s payout ratio is 61.20%.

Bank of Montreal Company Profile

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.