Bank of Montreal (TSE:BMO) Share Price Crosses Above 50 Day Moving Average - Here's Why

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO's share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$142.86 and traded as high as C$150.93. Bank of Montreal shares last traded at C$150.91, with a volume of 3,289,232 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BMO shares. National Bankshares set a C$144.00 price target on Bank of Montreal and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Jefferies Financial Group lowered their target price on shares of Bank of Montreal from C$155.00 to C$129.00 in a report on Monday, April 21st. Cibc World Mkts cut shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Scotiabank upgraded shares of Bank of Montreal to a "hold" rating in a research report on Thursday, May 15th. Finally, UBS Group decreased their price objective on shares of Bank of Montreal from C$160.00 to C$145.00 in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$145.69.

Bank of Montreal Price Performance

The company has a market capitalization of C$111.40 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.71 and a beta of 1.16. The stock's 50 day simple moving average is C$144.18 and its two-hundred day simple moving average is C$140.75.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 26th will be issued a $1.63 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.24%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.59. Bank of Montreal's dividend payout ratio (DPR) is currently 61.20%.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Erminia Johannson sold 4,676 shares of Bank of Montreal stock in a transaction on Monday, June 9th. The stock was sold at an average price of C$147.57, for a total value of C$690,023.29. Corporate insiders own 0.03% of the company's stock.

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.