Bank of Montreal Declares Quarterly Dividend of $1.59 (TSE:BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Tuesday, April 29th will be given a dividend of 1.59 per share by the bank on Tuesday, May 27th. This represents a $6.36 annualized dividend and a yield of 4.24%.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at C$149.91 on Wednesday. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$151.08. The firm has a market capitalization of C$108.58 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock’s fifty day moving average is C$141.79 and its two-hundred day moving average is C$130.64.

Insider Activity

In other news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BMO. Jefferies Financial Group raised their target price on shares of Bank of Montreal from C$126.00 to C$140.00 in a report on Tuesday, February 18th. CIBC upped their price objective on Bank of Montreal from C$150.00 to C$154.00 in a research report on Tuesday, February 18th. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$133.00 to C$161.00 in a research note on Wednesday, January 8th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Scotiabank dropped their price objective on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus price target of C$139.50.

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.