Bank of Montreal (TSE:BMO) Insider Sells C$2,154,059.60 in Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) insider Deland Kamanga sold 9,064 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of C$237.65, for a total value of C$2,154,059.60.

Bank of Montreal Stock Down 0.3%

Shares of BMO opened at C$242.76 on Friday. The stock has a market cap of C$168.74 billion, a P/E ratio of 19.78, a P/E/G ratio of 0.71 and a beta of 1.12. The business’s fifty day moving average is C$249.05 and its 200 day moving average is C$222.72. Bank of Montreal has a 12-month low of C$168.92 and a 12-month high of C$259.20.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Tuesday, August 25th. The bank reported C$3.96 earnings per share for the quarter. The firm had revenue of C$9.96 billion for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. On average, analysts expect that Bank of Montreal will post 9.6514585 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 26th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s payout ratio is 54.44%.

Key Stories Impacting Bank of Montreal

Here are the key news stories impacting Bank of Montreal this week:

• Positive Sentiment: Share buyback receives regulatory approval: Bank of Montreal secured approval for a normal-course issuer bid. The program could support earnings per share, provide demand for the stock and signal management’s confidence in the bank’s valuation. Bank of Montreal Secures Regulatory Clearance for Normal Course Issuer Bid
• Positive Sentiment: New covered-bond issuance supports funding: BMO issued €750 million of floating-rate covered bonds maturing in 2029. The transaction diversifies the bank’s funding sources and reinforces access to European debt markets, although it also adds funding obligations. Bank of Montreal Issues €750 Million Floating Rate Covered Bonds Due 2029
• Neutral Sentiment: Analysts remain cautiously constructive: Desjardins assigned BMO a C$260 price target, while CIBC cut its target from C$272 to C$261 and retained a “neutral” rating. The targets imply some upside but point to limited conviction in a near-term rally. Desjardins price target for Bank of Montreal CIBC price target update
• Negative Sentiment: Insider sale weighs on sentiment: Senior officer Deland Kamanga sold 9,064 shares for approximately C$2.15 million at an average price of C$237.65. Although the sale may reflect personal financial planning, insider selling can create modest short-term pressure. Bank of Montreal insider share sale

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BMO. Barclays upped their price target on Bank of Montreal from C$203.00 to C$240.00 in a report on Friday, August 21st. TD lifted their price objective on shares of Bank of Montreal from C$239.00 to C$263.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group upped their target price on shares of Bank of Montreal from C$213.00 to C$225.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Scotia increased their target price on shares of Bank of Montreal from C$268.00 to C$270.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 26th. Finally, Scotiabank raised their price target on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$256.57.

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.