Bank Of Montreal (NYSE:BMO) Issues Earnings Results

Bank Of Montreal (NYSE:BMO) (TSE:BMO) issued its quarterly earnings data on Thursday. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.20, Zacks reports. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s revenue was up 5.3% compared to the same quarter last year.

Bank Of Montreal Trading Down 0.1%

Shares of BMO stock opened at $126.66 on Friday. The company has a market capitalization of $90.14 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $125.65 and its two-hundred day moving average is $118.11. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $131.36.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be paid a $1.67 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. This represents a $6.68 annualized dividend and a dividend yield of 5.3%. Bank Of Montreal’s dividend payout ratio (DPR) is 57.28%.

Hedge Funds Weigh In On Bank Of Montreal

Several institutional investors have recently bought and sold shares of the company. MML Investors Services LLC increased its stake in shares of Bank Of Montreal by 2.7% during the second quarter. MML Investors Services LLC now owns 35,078 shares of the bank’s stock worth $3,881,000 after acquiring an additional 907 shares during the period. Man Group plc boosted its holdings in Bank Of Montreal by 3.6% in the 2nd quarter. Man Group plc now owns 110,116 shares of the bank’s stock valued at $12,182,000 after purchasing an additional 3,846 shares in the last quarter. Curi Capital LLC increased its position in Bank Of Montreal by 73.9% during the 2nd quarter. Curi Capital LLC now owns 4,723 shares of the bank’s stock worth $523,000 after purchasing an additional 2,007 shares during the period. Benjamin Edwards Inc. increased its position in Bank Of Montreal by 20.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 8,453 shares of the bank’s stock worth $935,000 after purchasing an additional 1,456 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Bank Of Montreal by 102.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,176 shares of the bank’s stock worth $462,000 after buying an additional 2,109 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Wall Street Zen downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $163.00.

About Bank Of Montreal

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.