Bank Of Montreal Plans Quarterly Dividend of C$1.71 (NYSE:BMO)

Bank Of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Tuesday, August 25th. Investors of record on Friday, October 30th will be given a dividend of 1.71 per share by the bank on Thursday, November 26th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, October 30th.

Bank Of Montreal has increased its dividend payment 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 dividend payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank Of Montreal to earn $11.84 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 40.6%.

Bank Of Montreal Stock Performance

Shares of NYSE BMO opened at $173.63 on Wednesday. The business’s 50-day moving average price is $177.82 and its two-hundred day moving average price is $158.87. 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 has a one year low of $115.10 and a one year high of $187.22. The company has a market capitalization of $121.05 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $2.62 EPS. Analysts anticipate that Bank Of Montreal will post 10.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BMO shares. Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Friday. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” 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.