Bank of Montreal (TSE:BMO) Shares Cross Below 200-Day Moving Average - Here's Why

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO's stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$136.57 and traded as low as C$131.71. Bank of Montreal shares last traded at C$132.47, with a volume of 2,847,171 shares trading hands.

Wall Street Analyst Weigh In

BMO has been the topic of several analyst reports. National Bankshares dropped their target price on shares of Bank of Montreal from C$161.00 to C$144.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Canaccord Genuity Group increased their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Jefferies Financial Group reduced their target price on Bank of Montreal from C$155.00 to C$129.00 in a report on Monday, April 21st. Cibc World Mkts downgraded Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Desjardins lifted their price objective on Bank of Montreal from C$147.00 to C$155.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$144.85.

Bank of Montreal Stock Performance

The stock has a market cap of C$97.67 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.71 and a beta of 1.16. The business's 50-day moving average price is C$135.50 and its 200-day moving average price is C$136.81.

Bank of Montreal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 27th will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's payout ratio is 61.20%.

Insider Activity

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total transaction of C$482,024.87. 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.