Bank of Montreal (TSE:BMO) Plans Quarterly Dividend of $1.51

Bank of Montreal (TSE:BMO) (NYSE:BMO) declared a quarterly dividend on Friday, April 26th, RTT News reports. Investors of record on Monday, April 29th will be given a dividend of 1.51 per share by the bank on Tuesday, May 28th. This represents a $6.04 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, April 26th.

Bank of Montreal Trading Up 0.6 %

BMO stock opened at C$128.11 on Wednesday. The stock has a market capitalization of C$92.94 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18. The stock’s 50 day simple moving average is C$127.97 and its 200 day simple moving average is C$122.00. Bank of Montreal has a 12-month low of C$102.67 and a 12-month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, February 27th. The bank reported C$2.56 earnings per share for the quarter, missing analysts’ consensus estimates of C$3.03 by C($0.47). The company had revenue of C$7.67 billion for the quarter, compared to analysts’ expectations of C$8.57 billion. Bank of Montreal had a net margin of 17.71% and a return on equity of 7.28%. On average, research analysts predict that Bank of Montreal will post 11.3809947 earnings per share for the current year.

Analysts Set New Price Targets

BMO has been the subject of a number of research reports. Jefferies Financial Group decreased their target price on shares of Bank of Montreal from C$144.00 to C$136.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Scotiabank decreased their target price on shares of Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Desjardins decreased their target price on shares of Bank of Montreal from C$135.00 to C$133.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. CIBC decreased their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. Finally, TD Securities reduced their price objective on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$132.39.

Insiders Place Their Bets

In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. In other Bank of Montreal news, Director Darrel Hackett sold 3,297 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of C$91.76, for a total value of C$302,532.72. Also, Senior Officer Nadim Hirji sold 2,882 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$130.46, for a total value of C$375,985.72. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.