Bank of Montreal (TSE:BMO) Plans Dividend Increase – $1.63 Per Share

Bank of Montreal (TSE:BMO) (NYSE:BMO) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Tuesday, August 26th 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 dividend yield of 4.16%. The ex-dividend date is Wednesday, July 30th. This is a 2.5% increase from Bank of Montreal’s previous quarterly dividend of $1.59.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at C$156.86 on Monday. The stock has a market cap of C$113.61 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock has a fifty day moving average of C$149.67 and a 200 day moving average of C$142.48. Bank of Montreal has a one year low of C$109.02 and a one year high of C$157.80.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMO. UBS Group lowered their target price on shares of Bank of Montreal from C$160.00 to C$145.00 in a research note on Thursday, May 22nd. Royal Bank Of Canada dropped their price objective on Bank of Montreal from C$163.00 to C$161.00 and set an “outperform” rating for the company in a research note on Monday, June 9th. Barclays downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating and set a C$144.00 target price on the stock. in a research note on Monday, June 9th. Cibc World Mkts lowered shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, CIBC lifted their price objective on shares of Bank of Montreal from C$150.00 to C$156.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$145.69.

Insider Activity at Bank of Montreal

In related news, Senior Officer Erminia Johannson sold 4,676 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of C$147.57, for a total value of C$690,023.29. 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.