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

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO shares crossed 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 Analyst Weigh In

Several analysts have issued reports on BMO shares. Scotiabank cut their target price on Bank of Montreal from C$137.00 to C$129.00 and set an "outperform" rating for the company in a research note on Thursday, May 30th. Desjardins lowered Bank of Montreal from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$133.00 to C$129.00 in a research note on Thursday, May 30th. CIBC cut their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a "neutral" rating on the stock in a report on Friday, March 8th. Canaccord Genuity Group cut their target price on shares of Bank of Montreal from C$140.00 to C$136.00 and set a "buy" rating on the stock in a report on Thursday, May 30th. Finally, Barclays cut their target price on shares of Bank of Montreal from C$140.00 to C$132.00 and set an "overweight" rating on the stock in a report on Thursday, May 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Bank of Montreal presently has a consensus rating of "Moderate Buy" and a consensus target price of C$131.96.

Bank of Montreal Price Performance

The company has a market cap of C$83.22 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19. The business has a 50 day moving average of C$123.96 and a 200 day moving average of C$126.05.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $6.20 annualized dividend and a yield of 5.40%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.51. Bank of Montreal's dividend payout ratio (DPR) is currently 82.85%.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal 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 transaction of C$375,985.72. Insiders own 0.03% of the company's stock.

Bank of Montreal Company Profile

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.