Bank of Montreal (BMO) to Issue Quarterly Dividend of $1.47 on August 28th

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) declared a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Friday, July 28th will be paid a dividend of 1.47 per share by the bank on Monday, August 28th. This represents a $5.88 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Thursday, July 27th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.43.

Bank of Montreal Stock Performance

Shares of BMO stock opened at C$113.00 on Friday. Bank of Montreal has a 52 week low of C$111.88 and a 52 week high of C$138.85. The stock has a market capitalization of C$79.47 billion, a PE ratio of 5.65, a PEG ratio of 1.49 and a beta of 1.13. The stock’s fifty day moving average is C$119.29 and its 200-day moving average is C$125.80.

Bank of Montreal (TSE:BMO – Get Rating) (NYSE:BMO) last posted its quarterly earnings data on Tuesday, February 28th. The bank reported C$3.22 earnings per share for the quarter, beating the consensus estimate of C$3.13 by C$0.09. Bank of Montreal had a net margin of 40.56% and a return on equity of 21.06%. The firm had revenue of C$6.47 billion during the quarter. As a group, analysts forecast that Bank of Montreal will post 13.4068182 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. CIBC decreased their price objective on Bank of Montreal from C$145.00 to C$139.00 in a research report on Tuesday, May 16th. Cormark decreased their price target on Bank of Montreal from C$140.00 to C$131.00 in a report on Thursday. CSFB cut their target price on shares of Bank of Montreal from C$147.00 to C$139.00 in a research report on Tuesday, May 16th. Royal Bank of Canada reduced their target price on shares of Bank of Montreal from C$151.00 to C$143.00 in a research note on Thursday. Finally, Bank of America dropped their price target on shares of Bank of Montreal from C$134.00 to C$125.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$138.59.

About Bank of Montreal

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Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.