Bank of Montreal (NYSE:BMO) Increases Dividend to $0.80 Per Share

Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, December 4th, Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.7965 per share by the bank on Wednesday, February 26th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.78.

Shares of NYSE BMO traded up $0.81 during mid-day trading on Wednesday, reaching $75.13. The company had a trading volume of 844,030 shares, compared to its average volume of 522,755. The business’s 50-day moving average is $75.42 and its 200-day moving average is $74.03. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $48.02 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Bank of Montreal has a 52 week low of $62.79 and a 52 week high of $79.35.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.61. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the firm posted $2.32 EPS. Bank of Montreal’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of Montreal will post 7.13 earnings per share for the current year.

A number of brokerages have weighed in on BMO. CIBC upgraded Bank of Montreal from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Tuesday. Credit Suisse Group upgraded Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a research note on Friday, September 6th. Scotiabank reiterated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, August 20th. ValuEngine upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $99.25.

About Bank of Montreal

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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Dividend History for Bank of Montreal (NYSE:BMO)

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