Bank of Montreal Director William Darryl White Sells Shares

On Friday, December 13th, William Darryl White, a Director at the Bank of Montreal (TSE:BMO - Get Free Report) (NYSE:BMO), sold 11,376 shares of the bank's stock. The shares were sold at an average price of C$140.79, resulting in a total transaction value of C$1,601,592.91.

Bank of Montreal Price Performance

The shares of Bank of Montreal opened at C$141.00 on the day of the sale. The bank currently has a market capitalization of C$102.85 billion. In terms of valuation metrics, it has a price-to-earnings (P/E) ratio of 16.23 and a price/earnings to growth (PEG) ratio of 0.71, with a beta of 1.16. The stock's performance over the past 50 days shows a simple moving average of C$130.93, while the 200-day simple moving average stands at C$122.22. Over the last year, the stock has seen a low of C$109.02 and a high of C$147.54.

Bank of Montreal Increases Dividend

The Bank of Montreal also announced an upcoming quarterly dividend. This will be paid on Wednesday, February 26th, with shareholders who are on record by Thursday, January 30th, set to receive a dividend of $1.59 per share. This marks an increase from the previous quarterly dividend of $1.55. Annually, this results in a dividend yield of 4.51%, with a total annualized dividend of $6.36. The current payout ratio is at 71.35%.

Analyst Upgrades and Downgrades

The Bank of Montreal has attracted attention from various analysts lately. Cormark adjusted their price target for the bank, lowering it from C$129.00 to C$118.00 in a research report dated August 28th. Similarly, Desjardins reduced their target from C$125.00 to C$120.00, reflecting a "hold" rating on the stock. In contrast, Canaccord Genuity Group raised their price target from C$143.00 to C$148.00 on December 6th. CIBC World Markets also upgraded the rating from "hold" to "strong-buy" on the same day. However, Bank of America shifted its stance, downgrading the rating from "buy" to "neutral" and decreasing the price objective from C$134.00 to C$117.00. Overall, six analysts recommend a hold, seven a buy, and one a strong buy, leading to a consensus rating of "Moderate Buy" and an average price target of C$131.33, according to MarketBeat.com.

Bank of Montreal Company Overview

The Bank of Montreal is a diversified financial services provider based primarily in North America. It operates through several segments including Canadian Personal and Commercial (P&C), U.S. Personal and Commercial (P&C), BMO Wealth Management, and BMO Capital Markets. Its offerings encompass personal banking services such as deposits, mortgages, consumer credit, and credit cards, alongside commercial banking solutions including financing options and treasury management.

Bank, Sale, Shares