Bank of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Wednesday, December 4th, Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.7965 per share by the bank on Wednesday, February 26th. This represents a $3.19 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Friday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.78.
Shares of NYSE:BMO traded up $0.81 on Wednesday, hitting $75.13. The company had a trading volume of 844,030 shares, compared to its average volume of 522,755. The firm’s 50-day simple moving average is $75.42 and its two-hundred day simple moving average is $74.03. Bank of Montreal has a 1 year low of $62.79 and a 1 year high of $79.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $48.02 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.94 and a beta of 1.19.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.61. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period last year, the company posted $2.32 EPS. Bank of Montreal’s revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Bank of Montreal will post 7.13 EPS for the current year.
A number of research analysts recently issued reports on the stock. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Oppenheimer raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Credit Suisse Group raised shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a research report on Friday, September 6th. Finally, Scotiabank reissued a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $99.25.
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, 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, as well as wealth management products and services, such as insurance products.
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