Insider Selling: Bank of Montreal (BMO) Insider Sells C$7,214,395.74 in Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) insider Gilles Gerard Ouellette sold 70,771 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of C$101.94, for a total value of C$7,214,395.74.

Bank of Montreal opened at C$102.65 on Thursday, reports. Bank of Montreal has a 1-year low of C$88.63 and a 1-year high of C$105.55.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Wednesday, May 30th. The bank reported C$2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$2.15 by C$0.05. Bank of Montreal had a return on equity of 9.46% and a net margin of 17.14%. The firm had revenue of C$5.62 billion for the quarter, compared to the consensus estimate of C$5.52 billion.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Investors of record on Wednesday, August 1st will be paid a $0.96 dividend. The ex-dividend date is Tuesday, July 31st. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.74%.

A number of research firms have recently issued reports on BMO. Barclays boosted their target price on Bank of Montreal from C$101.00 to C$107.00 in a report on Thursday, May 31st. Canaccord Genuity boosted their target price on Bank of Montreal from C$106.00 to C$109.00 in a report on Thursday, May 31st. CIBC dropped their target price on Bank of Montreal from C$111.00 to C$109.00 in a report on Monday, June 11th. Royal Bank of Canada boosted their target price on Bank of Montreal from C$117.00 to C$120.00 and gave the company a “sector perform” rating in a report on Thursday, May 31st. Finally, Eight Capital boosted their target price on Bank of Montreal from C$109.00 to C$114.00 in a report on Thursday, May 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$111.67.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

Insider Buying and Selling by Quarter for Bank of Montreal (TSE:BMO)

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