Bank Of Montreal (BMO) to Distribute Quarterly Dividend of C$1.71 on August 26th

Bank Of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, May 27th. Shareholders of record on Thursday, July 30th will be paid a dividend of 1.71 per share by the bank on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, July 30th. This is a 2.4% increase from Bank Of Montreal’s previous quarterly dividend of $1.67.

Bank Of Montreal has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Bank Of Montreal has a dividend payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank Of Montreal to earn $13.38 per share next year, which means the company should continue to be able to cover its $4.81 annual dividend with an expected future payout ratio of 35.9%.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $178.47 on Tuesday. The firm has a market capitalization of $125.00 billion, a P/E ratio of 18.95, a P/E/G ratio of 0.99 and a beta of 0.93. The stock has a fifty day moving average price of $171.01 and a two-hundred day moving average price of $152.48. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $184.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.62 EPS. As a group, analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Institutional Trading of Bank Of Montreal

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Bank Of Montreal in the 4th quarter valued at $1,059,320,000. Morgan Stanley lifted its stake in shares of Bank Of Montreal by 74.4% during the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock valued at $495,461,000 after acquiring an additional 1,628,318 shares during the period. UBS Group AG boosted its holdings in Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock valued at $277,091,000 after acquiring an additional 1,294,169 shares during the last quarter. FIL Ltd increased its position in Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after purchasing an additional 1,245,500 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Bank Of Montreal during the 4th quarter worth about $129,909,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

About Bank Of Montreal

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.