Bank Of Montreal Announces Quarterly Dividend of C$1.67 (NYSE:BMO)

Bank Of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Wednesday, April 29th will be given a dividend of 1.67 per share by the bank on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, April 29th.

Bank Of Montreal has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Bank Of Montreal has a dividend payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank Of Montreal to earn $9.02 per share next year, which means the company should continue to be able to cover its $4.86 annual dividend with an expected future payout ratio of 53.9%.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $147.68 on Thursday. The stock has a 50-day moving average price of $136.78 and a 200 day moving average price of $128.88. The stock has a market capitalization of $104.29 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.99 and a beta of 0.94. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $149.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 EPS. Equities research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BMO shares. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Zacks Research raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.