Bank of Montreal (TSE:BMO) (NYSE:BMO) announced a quarterly dividend on Tuesday, December 5th, RTT News reports. Shareholders of record on Thursday, February 1st will be given a dividend of 0.93 per share by the bank on Tuesday, February 27th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.90.
Bank of Montreal (TSE BMO) traded down C$0.45 during trading on Wednesday, hitting C$99.14. 1,721,866 shares of the stock were exchanged, compared to its average volume of 1,447,193. Bank of Montreal has a 1 year low of C$88.63 and a 1 year high of C$104.15.
BMO has been the subject of a number of research reports. Barclays increased their target price on shares of Bank of Montreal from C$98.00 to C$99.00 in a research report on Friday, August 11th. CIBC increased their target price on shares of Bank of Montreal from C$100.00 to C$107.00 in a report on Monday, November 13th. Canaccord Genuity reduced their target price on shares of Bank of Montreal from C$103.00 to C$99.00 in a report on Wednesday, November 1st. Finally, Scotiabank reduced their target price on shares of Bank of Montreal from C$103.00 to C$101.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Bank of Montreal currently has an average rating of “Hold” and an average price target of C$100.69.
About Bank of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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