Deland Kamanga Sells 9,064 Shares of Bank of Montreal (TSE:BMO) 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 Price Performance

Bank of Montreal stock opened at C$242.76 on Friday. The stock has a market capitalization of C$169.24 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. The business has a 50 day simple moving average of C$249.05 and a 200-day simple moving average of 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 announced its earnings results on Tuesday, August 25th. The bank reported C$3.96 earnings per share (EPS) for the quarter. The firm had revenue of C$9.96 billion for the quarter. Bank of Montreal had a return on equity of 10.58% and a net margin of 11.75%. On average, equities research analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

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

Key Bank of Montreal News

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 Analyst Weigh In

A number of brokerages recently weighed in on BMO. Scotia raised their price target on shares of Bank of Montreal from C$268.00 to C$270.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 26th. Jefferies Financial Group increased their target price on Bank of Montreal from C$213.00 to C$225.00 and gave the company a “hold” rating in a report on Thursday, August 13th. Barclays raised their target price on Bank of Montreal from C$203.00 to C$240.00 in a research report on Friday, August 21st. TD raised their price objective on Bank of Montreal from C$239.00 to C$263.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods set a C$295.00 target price on shares of Bank of Montreal and gave the stock a “moderate buy” rating in a research note on Friday, August 21st. Seven equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$256.57.

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.