Bank of Montreal (BMO) to Issue Quarterly Dividend of $1.12 on May 28th

Bank of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Wednesday, February 28th, Wall Street Journal reports. Investors of record on Monday, April 29th will be paid a dividend of 1.1172 per share by the bank on Tuesday, May 28th. This represents a $4.47 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, April 26th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11.

Bank of Montreal has increased its dividend by an average of 11.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Bank of Montreal has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Montreal to earn $10.01 per share next year, which means the company should continue to be able to cover its $4.39 annual dividend with an expected future payout ratio of 43.9%.

Bank of Montreal Price Performance

Shares of NYSE:BMO opened at $93.82 on Wednesday. The company’s fifty day moving average price is $94.26 and its 200 day moving average price is $90.05. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $68.42 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.78 and a beta of 1.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $6.34 billion. As a group, sell-side analysts predict that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMO has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Bank of Montreal in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, Barclays assumed coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.00.

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.