Bank of Montreal (TSE:BMO) Increases Dividend to $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 given a dividend of 1.59 per share by the bank on Wednesday, February 26th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.74%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.55.

Bank of Montreal Price Performance

Bank of Montreal stock opened at C$134.15 on Thursday. Bank of Montreal has a one year low of C$109.02 and a one year high of C$134.86. The stock has a market capitalization of C$97.85 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business’s fifty day moving average is C$128.03 and its 200 day moving average is C$121.47.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BMO shares. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price objective for the company from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. TD Securities increased their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Canaccord Genuity Group increased their price objective on Bank of Montreal from C$125.00 to C$143.00 in a research report on Tuesday, November 19th. Cormark dropped their price objective on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Finally, CIBC increased their target price on Bank of Montreal from C$120.00 to C$134.00 in a report on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$128.50.

Insider Transactions at Bank of Montreal

In related news, Senior Officer David Robert Casper sold 12,819 shares of Bank of Montreal stock in a transaction that occurred 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. Corporate insiders own 0.03% of the company’s stock.

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.