Bank of Montreal (TSE:BMO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Bank of Montreal has received an average rating of "Moderate Buy" from ten brokerages, with a target price range peaking at C$185.00 from Canaccord Genuity Group.
• Insider sales were reported recently, with two insiders selling a combined total of 35,883 shares, indicating a decrease in their ownership stakes in the company.
• The bank announced a quarterly dividend of $1.63 per share, reflecting a 3.7% dividend yield, with the ex-dividend date set for October 30th.

Shares of Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO have been given an average rating of "Moderate Buy" by the ten brokerages that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$167.83.

A number of research firms recently issued reports on BMO. Jefferies Financial Group boosted their target price on shares of Bank of Montreal from C$164.00 to C$173.00 in a research report on Wednesday, August 27th. National Bankshares set a C$173.00 target price on shares of Bank of Montreal and gave the company an "outperform" rating in a research report on Monday, September 22nd. Scotiabank boosted their target price on shares of Bank of Montreal from C$169.00 to C$179.00 in a research report on Friday. Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$180.00 to C$185.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, TD Securities boosted their target price on shares of Bank of Montreal from C$164.00 to C$170.00 and gave the company a "hold" rating in a research report on Wednesday, August 27th.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal news, insider Steven Lloyd Tennyson sold 9,072 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of C$163.89, for a total transaction of C$1,486,782.86. Following the transaction, the insider owned 21,866 shares in the company, valued at approximately C$3,583,553.14. This represents a 29.32% decrease in their ownership of the stock. Also, insider Alan Tannenbaum sold 9,824 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total transaction of C$1,720,408.35. In the last 90 days, insiders have sold 35,883 shares of company stock worth $5,989,740. Corporate insiders own 0.03% of the company's stock.

Bank of Montreal Stock Down 0.8%

Bank of Montreal stock opened at C$175.98 on Friday. Bank of Montreal has a 12-month low of C$121.31 and a 12-month high of C$182.90. The firm's fifty day moving average is C$169.50 and its 200 day moving average is C$152.27. The company has a market capitalization of C$128.04 billion, a PE ratio of 15.42, a PEG ratio of 0.71 and a beta of 1.35.

Bank of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 26th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, October 30th. Bank of Montreal's payout ratio is presently 55.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.