Bank of Montreal (NYSE:BMO) Issues Earnings Results

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO announced its quarterly earnings results on Wednesday. The bank reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84, Zacks reports. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year.

Bank of Montreal Price Performance

BMO stock traded up $0.43 during trading on Friday, reaching $107.41. The company's stock had a trading volume of 461,479 shares, compared to its average volume of 836,161. The company has a market capitalization of $77.56 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $108.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company's fifty day moving average is $97.18 and its 200-day moving average is $97.85.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.39%. Bank of Montreal's dividend payout ratio is 58.75%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada lifted their target price on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. CIBC reiterated a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, Scotiabank started coverage on shares of Bank of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $128.40.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bank of Montreal stock. AQR Capital Management LLC boosted its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 87.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,742 shares of the bank's stock after purchasing an additional 2,673 shares during the quarter. AQR Capital Management LLC's holdings in Bank of Montreal were worth $548,000 as of its most recent SEC filing. Institutional investors and hedge funds own 45.82% of the company's stock.

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.