Bank of Montreal (TSE:BMO) Insider Steven Lloyd Tennyson Sells 9,072 Shares

Key Points

• Insider Steven Lloyd Tennyson sold 9,072 shares of Bank of Montreal stock for a total of C$1,486,782.86, reducing his stake by 29.32%.
• Bank of Montreal recently announced a quarterly dividend increase from C$1.59 to C$1.63 per share, yielding 3.6% annually.
• Several analysts have upgraded their price targets for BMO shares, with Canaccord Genuity raising it from C$180.00 to C$185.00 and maintaining a "buy" rating.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO insider Steven Lloyd Tennyson sold 9,072 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of C$163.89, for a total value of C$1,486,782.86. Following the completion of the transaction, the insider directly owned 21,866 shares of the company's stock, valued at approximately C$3,583,553.14. This trade represents a 29.32% decrease in their position.

Steven Lloyd Tennyson also recently made the following trade(s):

• On Friday, August 29th, Steven Lloyd Tennyson sold 8,803 shares of Bank of Montreal stock. The stock was sold at an average price of C$163.81, for a total value of C$1,442,001.82.
• On Friday, August 29th, Steven Lloyd Tennyson sold 8,184 shares of Bank of Montreal stock. The stock was sold at an average price of C$163.80, for a total value of C$1,340,547.38.

Bank of Montreal Price Performance

Bank of Montreal stock traded up C$1.35 during mid-day trading on Friday, reaching C$179.87. 5,180,662 shares of the stock traded hands, compared to its average volume of 2,866,759. The stock has a market capitalization of C$128.84 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. The business's 50-day moving average is C$162.23 and its 200-day moving average is C$148.04. Bank of Montreal has a 12-month low of C$120.20 and a 12-month high of C$181.00.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 26th were issued a dividend of $1.63 per share. This is an increase from Bank of Montreal's previous quarterly dividend of $1.59. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, July 30th. Bank of Montreal's dividend payout ratio is currently 55.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BMO shares. Canaccord Genuity Group lifted their price target on shares of Bank of Montreal from C$180.00 to C$185.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Scotiabank boosted their price objective on shares of Bank of Montreal from C$148.00 to C$169.00 in a research report on Wednesday, August 27th. Bank of America boosted their price objective on shares of Bank of Montreal from C$159.00 to C$176.00 in a research report on Wednesday, August 27th. National Bankshares boosted their price objective on Bank of Montreal from C$161.00 to C$173.00 in a research note on Wednesday, August 27th. Finally, Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$167.42.

Bank of Montreal Company Profile

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.

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