Bank of Montreal to Issue Quarterly Dividend of $1.12 (NYSE:BMO)

Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Shareholders of record on Wednesday, October 30th will be paid a dividend of 1.123 per share by the bank on Tuesday, November 26th. This represents a $4.49 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Wednesday, October 30th.

Bank of Montreal has increased its dividend by an average of 11.0% per year over the last three years. Bank of Montreal has a payout ratio of 56.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Montreal to earn $8.75 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 51.2%.

Bank of Montreal Stock Down 0.7 %

NYSE:BMO opened at $92.77 on Monday. The firm’s 50-day moving average price is $88.49 and its 200-day moving average price is $88.06. The company has a market capitalization of $67.66 billion, a PE ratio of 15.41, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 earnings per share. On average, equities analysts predict that Bank of Montreal will post 8.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of analyst reports. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Barclays dropped their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $119.75.

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.