Bank of Montreal (BMO) To Go Ex-Dividend on October 30th

Bank of Montreal (NYSE:BMO) (TSE:BMO) announced a quarterly dividend on Tuesday, August 27th, Zacks reports. Stockholders of record on Wednesday, October 30th will be paid a dividend of 1.123 per share by the bank on Tuesday, November 26th. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Wednesday, October 30th.

Bank of Montreal has increased its dividend by an average of 11.0% per year over the last three years. Bank of Montreal has a payout ratio of 56.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Montreal to earn $8.75 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 51.2%.

Bank of Montreal Trading Down 0.7 %

BMO opened at $92.77 on Monday. The stock has a market cap of $67.66 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company has a fifty day moving average of $88.49 and a 200-day moving average of $88.06. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. Bank of Montreal’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. On average, sell-side analysts predict that Bank of Montreal will post 8.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMO shares. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. Finally, UBS Group began coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of $119.75.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.