Bank of Montreal (TSE:BMO) Shares Cross Above 200-Day Moving Average – Here’s Why

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$125.42 and traded as high as C$143.78. Bank of Montreal shares last traded at C$143.32, with a volume of 1,560,077 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BMO shares. TD Securities increased their price target on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Scotiabank raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$147.00 to C$160.00 in a report on Friday, December 6th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$133.00 to C$161.00 in a report on Wednesday, January 8th. National Bankshares upped their price target on Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Finally, CIBC raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from C$134.00 to C$150.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and an average price target of C$135.92.

Bank of Montreal Trading Up 0.3 %

The stock has a market capitalization of C$104.54 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.71 and a beta of 1.16. The company’s 50-day moving average is C$137.20 and its two-hundred day moving average is C$125.42.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 26th will be given a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.55. This represents a $6.36 annualized dividend and a dividend yield of 4.44%. Bank of Montreal’s payout ratio is currently 71.35%.

Insider Buying and Selling

In related news, Director William Darryl White sold 11,376 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total value of C$1,601,592.91. 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.