Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Tuesday, December 1st, Zacks reports. Shareholders of record on Monday, February 1st will be paid a dividend of 0.796 per share by the bank on Friday, February 26th. This represents a $3.18 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, January 29th. This is a positive change from Bank of Montreal's previous quarterly dividend of $0.79.
Bank of Montreal has increased its dividend payment by 15.3% over the last three years and has raised its dividend every year for the last 1 years. Bank of Montreal has a dividend payout ratio of 49.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of Montreal to earn $7.14 per share next year, which means the company should continue to be able to cover its $3.22 annual dividend with an expected future payout ratio of 45.1%.
Shares of Bank of Montreal stock opened at $75.82 on Thursday. Bank of Montreal has a 1-year low of $38.31 and a 1-year high of $80.40. The firm's 50-day moving average price is $76.89 and its two-hundred day moving average price is $65.51. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.51 and a beta of 1.29.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Monday, November 30th. The bank reported $2.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.91 by $0.50. Bank of Montreal had a net margin of 14.82% and a return on equity of 10.69%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. The firm's revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of Montreal will post 6.48 EPS for the current year.
BMO has been the subject of several research reports. BMO Capital Markets increased their price objective on shares of Bank of Montreal from $93.00 to $102.00 and gave the stock a "sector perform" rating in a research report on Monday, January 11th. Canaccord Genuity reissued a "buy" rating on shares of Bank of Montreal in a research report on Wednesday, December 2nd. Royal Bank of Canada reaffirmed a "market perform" rating on shares of Bank of Montreal in a research report on Wednesday, December 2nd. CIBC raised shares of Bank of Montreal to an "outperformer" rating and raised their target price for the company from $95.00 to $108.00 in a research report on Thursday, November 19th. Finally, Bank of America raised shares of Bank of Montreal to a "neutral" rating and set a $88.00 target price for the company in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Bank of Montreal presently has an average rating of "Hold" and an average target price of $82.89.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
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