Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Investors of record on Friday, November 1st will be paid a dividend of 0.781 per share by the bank on Tuesday, November 26th. This represents a $3.12 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.77.
Bank of Montreal has raised its dividend payment by an average of 2.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.
BMO traded up $0.57 on Wednesday, reaching $67.47. The company had a trading volume of 12,346 shares, compared to its average volume of 395,697. Bank of Montreal has a fifty-two week low of $62.79 and a fifty-two week high of $84.36. The stock has a market cap of $44.24 billion, a P/E ratio of 9.64, a P/E/G ratio of 2.71 and a beta of 1.16. The company’s fifty day moving average is $73.22 and its 200 day moving average is $75.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03.
A number of research analysts have issued reports on BMO shares. Barclays restated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Scotiabank restated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, August 20th. Howard Weil lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, May 30th. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Finally, Scotia Howard Weill restated a “sector perform” rating on shares of Bank of Montreal in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $97.00.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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