Bank of Montreal Director William Darryl White Sells Shares

On December 13th, William Darryl White, Director of the Bank of Montreal (TSE:BMO, NYSE:BMO), sold 11,376 shares of the company's stock. This sale took place at an average price of C$140.79 per share, bringing the total transaction value to C$1,601,592.91.

Bank of Montreal Price Performance

The shares of Bank of Montreal opened at C$141.00 on the day of the sale. The bank has a market capitalization of C$102.85 billion and possesses a price-to-earnings (P/E) ratio of 16.23. The stock's beta is recorded at 1.16, indicating its volatility in comparison to the market. Bank of Montreal's 50-day simple moving average stands at C$130.93, while the two-hundred-day simple moving average is at C$122.22. Over the last year, the bank’s shares have seen a low of C$109.02 and a high of C$147.54.

Bank of Montreal Increases Dividend

In addition to the stock sale, Bank of Montreal has announced a quarterly dividend payment. Shareholders who are on record by January 30th will receive a dividend of $1.59, marking an increase from the previous $1.55 dividend. This results in an annualized dividend of $6.36 and a dividend yield of 4.51%. The current payout ratio for the bank is reported at 71.35%.

Analyst Updates

The performance and prospects of Bank of Montreal have recently been discussed in various analyst reports. Cormark has reduced its price target from C$129.00 to C$118.00. Desjardins also lowered their price target from C$125.00 to C$120.00, advising a "hold" rating for the stock. Meanwhile, Canaccord Genuity raised its target from C$143.00 to C$148.00, indicating a more favorable view. Cibc World Markets upgraded its rating from "hold" to "strong-buy" as of December 6th. Conversely, Bank of America downgraded the stock from a "buy" to a "neutral" rating with a price objective set at C$117.00. Overall, market data shows that six analysts rate the stock as hold, seven as buy, and one as strong buy, leading to a consensus rating of "Moderate Buy" with a price target of C$131.33.

Bank of Montreal Company Profile

The Bank of Montreal provides a wide range of financial services primarily in North America. Its operations are conducted through several segments, including Canadian Personal and Commercial Banking, U.S. Personal and Commercial Banking, BMO Wealth Management, and BMO Capital Markets. Services offered range from deposits and mortgages to investment advice and commercial banking solutions.

BMO, shares, sale