Bank Of Montreal to Issue 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) annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, April 29th.

Bank Of Montreal has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Bank Of Montreal has a payout ratio of 52.5% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE BMO traded up $5.71 during midday trading on Wednesday, reaching $148.01. The company’s stock had a trading volume of 1,309,279 shares, compared to its average volume of 850,459. The company has a market cap of $104.53 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. Bank Of Montreal has a one year low of $85.40 and a one year 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. The company has a 50 day moving average price of $136.39 and a 200 day moving average price of $128.75.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. On average, equities research analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Wall Street Analyst Weigh In

BMO has been the subject of a number of analyst reports. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Finally, Zacks Research upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.