Bank of Montreal (TSE:BMO) Sets New 1-Year Low on Insider Selling

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price hit a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as C$0.01 and last traded at C$148.75, with a volume of 622869 shares trading hands. The stock had previously closed at C$148.76.

Specifically, Senior Officer Nadim Hirji sold 3,238 shares of Bank of Montreal 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.

Analysts Set New Price Targets

Several research firms have issued reports on BMO. National Bankshares upped their price target on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Desjardins raised their price target on Bank of Montreal from C$147.00 to C$155.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Scotiabank lowered their price objective on Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. UBS Group increased their price objective on Bank of Montreal from C$146.00 to C$160.00 in a research note on Friday. Finally, TD Securities lifted 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 note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$149.31.

Bank of Montreal Stock Performance

The company’s 50-day moving average price is C$142.40 and its 200 day moving average price is C$131.42. The stock has a market capitalization of C$106.81 billion, a PE ratio of 14.56, a PEG ratio of 0.71 and a beta of 1.16.

Bank of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.59 per share. 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 61.20%.

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.