Bank of Montreal (TSE:BMO) Issues Earnings Results

Bank of Montreal (TSE:BMO) (NYSE:BMO) announced its quarterly earnings results on Thursday. The bank reported C$3.28 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$9.34 billion during the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%.

Bank of Montreal Stock Performance

Shares of BMO stock opened at C$176.82 on Friday. The stock’s 50-day simple moving average is C$176.03 and its 200-day simple moving average is C$163.56. The firm has a market capitalization of C$126.66 billion, a PE ratio of 15.50, a P/E/G ratio of 0.71 and a beta of 1.39. Bank of Montreal has a fifty-two week low of C$121.31 and a fifty-two week high of C$182.90.

Bank of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 26th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 3.7%. Bank of Montreal’s payout ratio is currently 55.74%.

Insiders Place Their Bets

In other Bank of Montreal news, insider Alan Tannenbaum sold 9,824 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of C$175.12, for a total transaction of C$1,720,408.35. Company insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMO. Scotiabank set a C$179.00 price target on Bank of Montreal and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. National Bankshares cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$173.00 to C$181.00 in a research report on Monday, November 17th. Desjardins boosted their price objective on shares of Bank of Montreal from C$156.00 to C$165.00 and gave the stock a “hold” rating in a research note on Wednesday, August 27th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$168.00 to C$163.00 in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and a consensus target price of C$173.54.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.