Bank of Montreal (TSE:BMO) Insider Sells 9,064 Shares

Key Points

• Insider sale: Bank of Montreal insider Deland Kamanga sold 9,064 shares at an average price of C$237.65, generating proceeds of approximately C$2.15 million.
• Strong financial profile: The stock rose 1.8% to C$243.52, while the bank reported quarterly EPS of C$3.96 and revenue of C$9.96 billion.
• Dividend and analyst outlook: Bank of Montreal increased its quarterly dividend to $1.71 per share, producing a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of C$256.57.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO insider Deland Kamanga sold 9,064 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of C$237.65, for a total value of C$2,154,059.60.

Bank of Montreal Trading Up 1.8%

TSE BMO traded up C$4.23 during trading on Thursday, hitting C$243.52. 605,017 shares of the company's stock were exchanged, compared to its average volume of 2,458,033. The company has a market cap of C$169.77 billion, a PE ratio of 19.85, a P/E/G ratio of 0.71 and a beta of 1.22. Bank of Montreal has a fifty-two week low of C$168.92 and a fifty-two week high of C$259.20. The stock's 50 day moving average price is C$249.25 and its two-hundred day moving average price is C$222.22.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last announced its quarterly earnings results on Tuesday, August 25th. The bank reported C$3.96 earnings per share (EPS) for the quarter. The company had revenue of C$9.96 billion for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. Analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 26th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Thursday, July 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.8%. Bank of Montreal's payout ratio is presently 54.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank increased their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the company a "sector outperform" rating in a research note on Tuesday, June 16th. Jefferies Financial Group boosted their price objective on Bank of Montreal from C$213.00 to C$225.00 and gave the stock a "hold" rating in a research report on Thursday, August 13th. Bank of America upped their target price on Bank of Montreal from C$259.00 to C$262.00 in a report on Wednesday, August 26th. National Bank Financial set a C$278.00 price target on Bank of Montreal and gave the company a "sector perform" rating in a research note on Monday, August 24th. Finally, Canaccord Genuity Group boosted their price target on Bank of Montreal from C$265.00 to C$271.00 and gave the stock a "buy" rating in a report on Wednesday, August 26th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$256.57.

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.

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