Tayfun Tuzun Sells 20,300 Shares of Bank of Montreal (TSE:BMO) Stock

Key Points

• Director Tayfun Tuzun sold 31,935 Bank of Montreal shares on August 28 at C$236.69 per share, for combined proceeds of approximately C$7.56 million.
• Bank of Montreal reported quarterly EPS of C$2.38 and revenue of C$9.90 billion, while its stock traded near C$238.32 with a market capitalization of C$166.14 billion.
• The bank increased its quarterly dividend to $1.71 per share, equivalent to an annualized $6.84 and a 2.9% yield. Analysts’ average rating is “Hold,” with an average price target of C$257.36.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO Director Tayfun Tuzun sold 20,300 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of C$236.69, for a total transaction of C$4,804,807.00.

Tayfun Tuzun also recently made the following trade(s):

• On Friday, August 28th, Tayfun Tuzun sold 11,635 shares of Bank of Montreal stock. The stock was sold at an average price of C$236.69, for a total value of C$2,753,888.15.

Bank of Montreal Stock Performance

BMO traded down C$0.37 during mid-day trading on Friday, reaching C$238.32. 914,784 shares of the stock were exchanged, compared to its average volume of 2,465,374. The stock has a market capitalization of C$166.14 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. The company has a 50 day moving average price of C$249.86 and a two-hundred day moving average price of C$221.03. Bank of Montreal has a 1 year low of C$163.32 and a 1 year high of C$259.20.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last posted its quarterly earnings results on Tuesday, August 25th. The bank reported C$2.38 earnings per share (EPS) for the quarter. Bank of Montreal had a return on equity of 10.58% and a net margin of 11.75%.The business had revenue of C$9.90 billion for the quarter. Sell-side analysts expect that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 26th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 30th. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.67. Bank of Montreal's dividend payout ratio is currently 50.69%.

Analyst Ratings Changes

Several research firms have weighed in on BMO. Raymond James Financial raised their target price on shares of Bank of Montreal from C$233.50 to C$268.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. TD lifted their price target on shares of Bank of Montreal from C$239.00 to C$263.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Royal Bank Of Canada increased their price target on shares of Bank of Montreal from C$230.00 to C$241.00 and gave the company a "sector perform" rating in a research note on Wednesday. Bank of America boosted their price target on Bank of Montreal from C$259.00 to C$262.00 in a research report on Wednesday. Finally, Desjardins upped their price objective on Bank of Montreal from C$230.00 to C$260.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bank of Montreal currently has an average rating of "Hold" and an average target price of C$257.36.

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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