Bank of Montreal (TSE:BMO) Stock Crosses Below 200 Day Moving Average – What’s Next?

Bank of Montreal (TSE:BMO) (NYSE:BMO) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$136.13 and traded as low as C$127.28. Bank of Montreal shares last traded at C$128.72, with a volume of 3,571,505 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on BMO. Desjardins upped their price objective on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective 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. National Bankshares reduced their target price on Bank of Montreal from C$161.00 to C$144.00 and set an “outperform” rating for the company in a report on Monday, April 7th. Scotiabank lowered their price target on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, TD Securities increased their target price on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$146.85.

Bank of Montreal Trading Up 0.5 %

The firm has a market capitalization of C$93.67 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.71 and a beta of 1.16. The company’s fifty day moving average is C$138.11 and its 200-day moving average is C$136.19.

Bank of Montreal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 27th will be paid a $1.59 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 4.92%. Bank of Montreal’s payout ratio is presently 61.20%.

Insider Buying and Selling at Bank of Montreal

In related 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 transaction of C$482,024.87. Insiders own 0.03% of the company’s stock.

About Bank of Montreal

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.