Bank of Montreal (TSE:BMO) Declares Quarterly Dividend of $1.59

Bank of Montreal (TSE:BMO) (NYSE:BMO) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Thursday, January 30th will be given a dividend of 1.59 per share by the bank on Wednesday, February 26th. This represents a $6.36 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.55.

Bank of Montreal Price Performance

BMO opened at C$146.32 on Friday. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$147.54. The firm has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.71 and a beta of 1.16. The company’s 50 day moving average price is C$128.38 and its two-hundred day moving average price is C$121.59.

Analyst Ratings Changes

BMO has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Canaccord Genuity Group boosted their price target on shares of Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from C$134.00 to C$150.00 in a research report on Friday. National Bankshares boosted their price target on shares of Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Finally, Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$131.33.

Insider Activity at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by company insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.