Deland Kamanga Sells 9,064 Shares of Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) insider Deland Kamanga sold 9,064 shares of Bank of Montreal stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$237.65, for a total transaction of C$2,154,059.60.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock traded up C$4.23 during trading on Thursday, reaching C$243.52. 605,017 shares of the company traded hands, compared to its average volume of 2,458,033. Bank of Montreal has a 1-year low of C$168.92 and a 1-year high of C$259.20. The company has a 50 day moving average price of C$249.25 and a 200-day moving average price of C$222.22. The firm has a market capitalization of C$169.77 billion, a PE ratio of 19.85, a P/E/G ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported C$3.96 EPS for the quarter. The business had revenue of C$9.96 billion during the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. Equities research analysts expect that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were given a dividend of $1.71 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.8%. Bank of Montreal’s payout ratio is currently 54.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on BMO. Jefferies Financial Group raised their target price on Bank of Montreal from C$213.00 to C$225.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Scotiabank upped their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Scotia increased their price target on Bank of Montreal from C$268.00 to C$270.00 and gave the stock a “sector outperform” rating in a report on Wednesday, August 26th. Keefe, Bruyette & Woods set a C$295.00 price objective on Bank of Montreal and gave the company a “moderate buy” rating in a research note on Friday, August 21st. Finally, National Bank Financial set a C$278.00 price objective on Bank of Montreal and gave the company a “sector perform” rating in a report on Monday, August 24th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$256.57.

About Bank of Montreal

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.