Bank of Montreal (NYSE:BMO) Announces $1.05 Quarterly Dividend

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) announced a quarterly dividend on Thursday, December 1st, Wall Street Journal reports. Shareholders of record on Monday, January 30th will be paid a dividend of 1.0548 per share by the bank on Tuesday, February 28th. This represents a $4.22 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, January 27th.

Bank of Montreal has increased its dividend payment by an average of 0.3% annually over the last three years and has raised its dividend every year for the last 1 years. Bank of Montreal has a dividend payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Montreal to earn $10.60 per share next year, which means the company should continue to be able to cover its $4.21 annual dividend with an expected future payout ratio of 39.7%.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at $99.62 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $94.69 and a two-hundred day moving average price of $94.75. Bank of Montreal has a 1-year low of $81.57 and a 1-year high of $122.77. The company has a market cap of $70.07 billion, a P/E ratio of 6.41, a PEG ratio of 1.48 and a beta of 1.13.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last issued its quarterly earnings results on Thursday, December 1st. The bank reported $2.28 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.01). The business had revenue of $7.94 billion for the quarter. Bank of Montreal had a return on equity of 14.95% and a net margin of 30.35%. As a group, analysts anticipate that Bank of Montreal will post 10.08 EPS for the current year.

Hedge Funds Weigh In On Bank of Montreal

Hedge funds have recently modified their holdings of the company. Guggenheim Capital LLC lifted its position in shares of Bank of Montreal by 114.2% during the 1st quarter. Guggenheim Capital LLC now owns 4,467 shares of the bank’s stock worth $527,000 after buying an additional 2,382 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Bank of Montreal during the 1st quarter worth approximately $473,000. SVB Wealth LLC increased its stake in shares of Bank of Montreal by 16.4% during the 1st quarter. SVB Wealth LLC now owns 3,451 shares of the bank’s stock worth $407,000 after purchasing an additional 486 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Bank of Montreal by 7.4% during the 1st quarter. Evergreen Capital Management LLC now owns 3,347 shares of the bank’s stock worth $395,000 after purchasing an additional 232 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Bank of Montreal during the 1st quarter worth approximately $375,000. Institutional investors own 42.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BMO. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, December 7th. Bank Of America (Bofa) cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a research report on Monday, December 12th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a research report on Monday, December 12th. Credit Suisse Group started coverage on shares of Bank of Montreal in a research report on Monday, December 19th. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets dropped their price target on shares of Bank of Montreal from C$151.00 to C$147.50 in a research report on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Bank of Montreal presently has an average rating of “Moderate Buy” and a consensus price target of $159.31.

Bank of Montreal Company Profile

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Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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Dividend History for Bank of Montreal (NYSE:BMO)

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