Bank of Montreal (TSE:BMO) Reaches New 1-Year Low Following Insider Selling

Bank of Montreal (TSE:BMO) (NYSE:BMO) shares reached a new 52-week low on Monday following insider selling activity. The company traded as low as C$0.01 and last traded at C$148.75, with a volume of 622869 shares. The stock had previously closed at C$148.76.

Specifically, Senior Officer Nadim Hirji sold 3,238 shares of the company’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.

Analyst Ratings Changes

Several research analysts have weighed in on BMO shares. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price target on Bank of Montreal from C$161.00 to C$163.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Scotiabank dropped their target price on shares of Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$140.00 to C$155.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, UBS Group upped their target price on Bank of Montreal from C$146.00 to C$160.00 in a research note on Friday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and a consensus price target of C$149.31.

Bank of Montreal Stock Performance

The company’s fifty day moving average price is C$142.56 and its two-hundred day moving average price is C$131.68. The firm has a market capitalization of C$106.81 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

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, April 29th will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.31%. Bank of Montreal’s dividend payout ratio (DPR) is presently 61.20%.

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.