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

Key Points

• Bank of Montreal declared a C$1.71 quarterly dividend, payable November 26 to shareholders of record October 30. The dividend implies an annualized payout of C$6.84 and a yield of approximately 3.9%.
• The dividend appears well covered, with a current payout ratio of 52.0% and an expected future payout ratio of 40.6%; BMO has increased its dividend for four consecutive years.
• BMO’s latest quarterly earnings beat expectations, reporting EPS of $2.68 versus the $2.54 consensus and revenue of $7.04 billion. Analysts maintain a consensus “Hold” rating with an average price target of $163.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO declared 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) annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, October 30th.

Bank Of Montreal has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Bank Of Montreal has a dividend payout ratio of 52.0% indicating that 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 Price Performance

NYSE BMO traded up $1.28 on Tuesday, reaching $173.63. The company had a trading volume of 1,341,681 shares, compared to its average volume of 816,181. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $121.05 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94. The firm's 50 day moving average price is $177.74 and its 200 day moving average price is $158.64. Bank Of Montreal has a 12 month low of $115.10 and a 12 month high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during 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 business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 EPS. As a group, equities analysts predict that Bank Of Montreal will post 10.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BMO shares. Zacks Research lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Tuesday, August 18th. Weiss Ratings lowered shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Finally, Barclays reaffirmed an "underweight" rating on shares of Bank Of Montreal in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.

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