Bank of Montreal (NYSE:BMO) Announces Quarterly Earnings Results

Bank of Montreal (NYSE:BMO) (TSE:BMO) posted its quarterly earnings data on Tuesday. The bank reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $1.36, Briefing.com reports. The company had revenue of $9.27 billion for the quarter, compared to analyst estimates of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.56 EPS.

Bank of Montreal Stock Performance

Shares of BMO traded down $0.43 during mid-day trading on Wednesday, reaching $103.72. The company’s stock had a trading volume of 332,788 shares, compared to its average volume of 613,841. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The business has a 50-day simple moving average of $98.79 and a two-hundred day simple moving average of $93.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market cap of $75.59 billion, a P/E ratio of 14.85, a PEG ratio of 1.43 and a beta of 1.09.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.37%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 63.18%.

Wall Street Analysts Forecast Growth

BMO has been the topic of several analyst reports. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Royal Bank of Canada boosted their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.40.

Bank of Montreal Company Profile

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.