Bank of Montreal Director's Recent Stock Sale

On December 13th, William Darryl White, a director at the Bank of Montreal (TSE:BMO), sold a total of 11,376 shares of the company. The shares were sold at an average price of C$140.79, making the total value of the transaction approximately C$1,601,592.91.

Bank of Montreal Stock Performance

On the day of the sale, Bank of Montreal shares opened at C$141.00. The bank has a market capitalization of C$102.85 billion, with a price-to-earnings (P/E) ratio of 16.23 and a price-to-earnings growth (PEG) ratio of 0.71. The stock's beta is 1.16, indicating volatility in line with the market. Over the past 50 days, the company's simple moving average stands at C$130.93, while the two-hundred day simple moving average is C$122.22. The stock has experienced a range within the past year, with a low of C$109.02 and a high of C$147.54.

Dividend Increase Announcement

Recently, the Bank of Montreal announced an increase in its quarterly dividend. Shareholders will receive a dividend of $1.59, which will be payable on February 26th to those who are on record as of January 30th. This new dividend represents an increase from the previous quarterly amount of $1.55, translating into an annualized dividend of $6.36 and a yield of 4.51%. Currently, the payout ratio stands at 71.35%.

Recent Analyst Ratings

In the context of recent analyst opinions, BMO has seen varied reports. Cormark recently decreased its price target for the company from C$129.00 to C$118.00, while Desjardins also lowered their price target from C$125.00 to C$120.00, maintaining a "hold" rating. Conversely, Canaccord Genuity Group raised their target price from C$143.00 to C$148.00. Cibc World Markets upgraded their rating from "hold" to a "strong-buy" on December 6th. However, Bank of America adjusted their position from "buy" to "neutral" with a new target of C$117.00. Overall, research indicates that six analysts have a hold rating, seven a buy rating, and one a strong buy rating for the stock. The consensus rating is currently a "Moderate Buy" with a target price of C$131.33 according to MarketBeat.com.

Company Overview

The Bank of Montreal offers a wide range of financial services predominantly across North America. Its operations are divided into several segments, including Canadian P&C, U.S. P&C, BMO Wealth Management, and BMO Capital Markets. Personal banking services range from deposits and mortgages to credit cards and investment advice, while commercial banking provides various financing options and treasury solutions.

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