Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, May 24th. Investors of record on Tuesday, August 1st will be paid a dividend of 0.6616 per share by the bank on Monday, August 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, July 28th.

Bank of Montreal has decreased its dividend payment by an average of 4.0% annually over the last three years. Bank of Montreal has a payout ratio of 44.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Montreal to earn $6.20 per share next year, which means the company should continue to be able to cover its $2.59 annual dividend with an expected future payout ratio of 41.8%.

Shares of Bank of Montreal (NYSE:BMO) traded down 2.39% during trading on Wednesday, reaching $68.61. 1,140,750 shares of the company were exchanged. The firm’s 50 day moving average is $71.59 and its 200 day moving average is $72.53. The firm has a market capitalization of $44.53 billion, a P/E ratio of 12.36 and a beta of 1.06. Bank of Montreal has a 1-year low of $60.93 and a 1-year high of $78.00.

Bank of Montreal (NYSE:BMO) last issued its quarterly earnings data on Tuesday, February 28th. The bank reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.27. Bank of Montreal had a return on equity of 13.38% and a net margin of 17.99%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter last year, the company earned $1.75 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Bank of Montreal will post $5.91 EPS for the current fiscal year.

Dividend History for Bank of Montreal (NYSE:BMO)

An institutional investor recently raised its position in Bank of Montreal stock. Geode Capital Management LLC raised its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,416 shares of the bank’s stock after buying an additional 57 shares during the period. Geode Capital Management LLC’s holdings in Bank of Montreal were worth $554,000 at the end of the most recent reporting period. 47.82% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Citigroup Inc raised Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Scotiabank raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 1st. Finally, Barclays PLC raised Bank of Montreal from an “underweight” rating to an “equal weight” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $86.89.

Bank of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

12 Month Chart for NYSE:BMO

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