Insider Selling: Bank of Montreal (TSE:BMO) Director Sells 27,167 Shares of Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) Director William Darryl White sold 27,167 shares of Bank of Montreal stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the completion of the sale, the director directly owned 87,166 shares in the company, valued at C$19,676,852.84. This represents a 23.76% decrease in their position.

Bank of Montreal Price Performance

Shares of BMO traded up C$1.25 during midday trading on Tuesday, hitting C$225.18. The stock had a trading volume of 2,814,835 shares, compared to its average volume of 2,675,368. The company has a 50 day simple moving average of C$204.52 and a two-hundred day simple moving average of C$192.08. The firm has a market cap of C$158.73 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. Bank of Montreal has a twelve month low of C$143.35 and a twelve month high of C$227.75.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. The business had revenue of C$9.57 billion for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. Analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were given a $1.67 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.0%. Bank of Montreal’s payout ratio is currently 50.69%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce boosted their price target on Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a research report on Thursday, May 28th. Barclays boosted their price target on Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. TD boosted their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Jefferies Financial Group upped their target price on Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Finally, National Bank Financial upped their price target on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of C$223.13.

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.