Bank Of Montreal (NYSE:BMO) to Issue Quarterly Dividend of C$1.67

Bank Of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, February 25th. Investors of record on Wednesday, April 29th will be given a dividend of 1.67 per share by the bank on Tuesday, May 26th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, April 29th.

Bank Of Montreal has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Bank Of Montreal has a payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank Of Montreal to earn $9.02 per share next year, which means the company should continue to be able to cover its $4.86 annual dividend with an expected future payout ratio of 53.9%.

Bank Of Montreal Stock Up 4.0%

NYSE BMO traded up $5.71 on Wednesday, reaching $148.01. The company had a trading volume of 1,309,279 shares, compared to its average volume of 850,459. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $149.01. The firm has a 50-day moving average of $136.39 and a 200-day moving average of $128.75. The firm has a market capitalization of $104.53 billion, a PE ratio of 18.14, a P/E/G ratio of 0.99 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. On average, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BMO. AQR Capital Management LLC grew its position in Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after buying an additional 2,673 shares in the last quarter. Ethic Inc. bought a new position in shares of Bank Of Montreal in the second quarter valued at approximately $204,000. Focus Partners Advisor Solutions LLC increased its stake in shares of Bank Of Montreal by 4.5% during the second quarter. Focus Partners Advisor Solutions LLC now owns 2,616 shares of the bank’s stock valued at $289,000 after acquiring an additional 112 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Bank Of Montreal during the second quarter worth approximately $208,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Bank Of Montreal in the second quarter worth approximately $893,000. 45.82% of the stock is owned by institutional investors and hedge funds.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.