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

Bank Of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Tuesday, August 25th. Stockholders 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) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, October 30th.

Bank Of Montreal has increased its dividend by an average of 0.1%per year 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% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.7%

Bank Of Montreal stock traded up $1.28 during trading hours on Tuesday, hitting $173.63. The company had a trading volume of 1,341,681 shares, compared to its average volume of 816,181. The firm has a market cap of $121.05 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a 1 year low of $115.10 and a 1 year high of $187.22. The company has a 50-day moving average price of $177.74 and a two-hundred day moving average price of $158.64.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the prior year, the company earned $2.62 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank Of Montreal will post 10.49 earnings per share for the current year.

Hedge Funds Weigh In On Bank Of Montreal

A number of institutional investors have recently modified their holdings of BMO. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth about $29,000. Larson Financial Group LLC raised its position in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares in the last quarter. WFA of San Diego LLC acquired a new position in Bank Of Montreal in the second quarter valued at approximately $28,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

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.