Bank of Montreal (TSE:BMO) Stock Price Down 5.4%

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) dropped 5.4% during trading on Wednesday . The stock traded as low as C$123.68 and last traded at C$123.96. Approximately 899,989 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,639,658 shares. The stock had previously closed at C$131.10.

Analyst Upgrades and Downgrades

BMO has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Bank of Montreal from C$134.00 to C$130.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Canaccord Genuity Group decreased their price objective on Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Jefferies Financial Group raised their price objective on Bank of Montreal from C$136.00 to C$142.00 in a research note on Monday, May 13th. Scotiabank decreased their price objective on Bank of Montreal from C$141.00 to C$137.00 and set an “outperform” rating on the stock in a research note on Friday, May 17th. Finally, TD Securities cut their target price on Bank of Montreal from C$145.00 to C$142.00 in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Bank of Montreal has a consensus rating of “Moderate Buy” and an average price target of C$134.12.

Check Out Our Latest Stock Report on Bank of Montreal

Bank of Montreal Stock Performance

The firm has a market cap of C$89.33 billion, a PE ratio of 16.90, a PEG ratio of 0.54 and a beta of 1.19. The firm has a fifty day simple moving average of C$128.66 and a two-hundred day simple moving average of C$125.46.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last released its quarterly earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share for the quarter, missing the consensus estimate of C$3.03 by C($0.47). The firm had revenue of C$7.67 billion for the quarter, compared to analysts’ expectations of C$8.57 billion. Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. Equities analysts forecast that Bank of Montreal will post 11.2532189 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.03%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.51. Bank of Montreal’s dividend payout ratio (DPR) is currently 82.85%.

Insider Transactions at Bank of Montreal

In other news, Director Darrel Hackett sold 3,297 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. In related news, Director Darrel Hackett sold 3,297 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total transaction of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total value of C$375,985.72. Company insiders own 0.03% of the company’s stock.

About Bank of Montreal

(Get Free Report)

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.

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