Bank of Montreal (NYSE:BMO) (TSE:BMO) posted its quarterly earnings data on Tuesday, February 27th. The bank reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.02, Morningstar.com reports. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.45 billion. Bank of Montreal had a net margin of 16.69% and a return on equity of 13.85%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business earned $2.28 earnings per share.
Bank of Montreal (NYSE:BMO) traded up $0.35 during midday trading on Wednesday, reaching $75.96. 394,746 shares of the company were exchanged, compared to its average volume of 431,927. The company has a market capitalization of $49,490.00, a PE ratio of 13.87, a P/E/G ratio of 1.62 and a beta of 1.08. Bank of Montreal has a twelve month low of $66.75 and a twelve month high of $84.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.18 and a current ratio of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 28th. Investors of record on Tuesday, May 1st will be paid a $0.755 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $3.02 dividend on an annualized basis and a yield of 3.98%. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.73. Bank of Montreal’s payout ratio is presently 53.27%.
Large investors have recently added to or reduced their stakes in the business. Greystone Managed Investments Inc. boosted its position in Bank of Montreal by 16.9% in the third quarter. Greystone Managed Investments Inc. now owns 621,311 shares of the bank’s stock valued at $46,912,000 after buying an additional 90,023 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of Bank of Montreal by 3.2% during the fourth quarter. Scotia Capital Inc. now owns 1,870,159 shares of the bank’s stock worth $149,642,000 after purchasing an additional 58,272 shares in the last quarter. BKS Advisors LLC lifted its position in shares of Bank of Montreal by 1.6% during the third quarter. BKS Advisors LLC now owns 48,819 shares of the bank’s stock worth $3,696,000 after purchasing an additional 786 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Bank of Montreal during the fourth quarter worth approximately $195,000. Finally, BB&T Securities LLC raised its stake in shares of Bank of Montreal by 14.7% during the third quarter. BB&T Securities LLC now owns 74,535 shares of the bank’s stock worth $5,643,000 after buying an additional 9,540 shares during the last quarter. Hedge funds and other institutional investors own 45.84% of the company’s stock.
A number of equities research analysts have issued reports on BMO shares. Macquarie raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 15th. Zacks Investment Research raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Tuesday, February 6th. Canaccord Genuity reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Bank of Montreal in a research note on Tuesday, December 5th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $98.60.
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About Bank of Montreal
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.
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