Bank of Montreal (TSE:BMO) Stock Price Passes Below 200-Day Moving Average of $126.13

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$126.13 and traded as low as C$114.95. Bank of Montreal shares last traded at C$115.76, with a volume of 1,291,396 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BMO shares. National Bankshares decreased their target price on shares of Bank of Montreal from C$143.00 to C$136.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group decreased their price objective on Bank of Montreal from C$140.00 to C$136.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Cormark dropped their target price on Bank of Montreal from C$141.00 to C$133.00 in a report on Thursday, May 30th. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$133.00 to C$129.00 in a report on Thursday, May 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of Montreal from C$136.00 to C$142.00 in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$131.96.

Bank of Montreal Stock Up 0.3 %

The stock’s fifty day simple moving average is C$124.26 and its 200-day simple moving average is C$126.13. The company has a market capitalization of C$83.98 billion, a PE ratio of 15.88, a PEG ratio of 0.54 and a beta of 1.19.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be paid a $1.55 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.51. This represents a $6.20 annualized dividend and a yield of 5.36%. The ex-dividend date is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 82.85%.

Insiders Place Their Bets

In other news, Senior Officer Nadim Hirji sold 2,882 shares of the firm’s 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 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.