Bank of Montreal (TSE:BMO) to Issue Quarterly Dividend of $1.63

Bank of Montreal (TSE:BMO) (NYSE:BMO) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Wednesday, July 30th will be given a dividend of 1.63 per share by the bank on Tuesday, August 26th. This represents a $6.52 annualized dividend and a yield of 4.41%. This is a 2.5% increase from Bank of Montreal’s previous quarterly dividend of $1.59.

Bank of Montreal Price Performance

Bank of Montreal stock opened at C$147.79 on Friday. The firm has a fifty day moving average price of C$135.56 and a two-hundred day moving average price of C$138.54. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$151.08. The firm has a market cap of C$107.04 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.71 and a beta of 1.16.

Insider Transactions at Bank of Montreal

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total value of C$482,024.87. 0.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BMO has been the subject of a number of research analyst reports. TD Securities upped their price target on Bank of Montreal from C$145.00 to C$152.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. CIBC raised their price target on shares of Bank of Montreal from C$141.00 to C$150.00 in a research note on Thursday, May 22nd. Desjardins lifted their price objective on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. National Bankshares set a C$144.00 target price on shares of Bank of Montreal and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group upped their price target on shares of Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal currently has a consensus rating of “Hold” and a consensus target price of C$144.38.

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.