Bank Of Montreal (NYSE:BMO) Issues Earnings Results, Beats Estimates By $0.13 EPS

Bank Of Montreal (NYSE:BMO) (TSE:BMO) released its quarterly earnings results on Tuesday. The bank reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.13, Zacks reports. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.

Bank Of Montreal Price Performance

BMO opened at $172.22 on Tuesday. The company has a market capitalization of $120.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.07 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12-month low of $113.60 and a 12-month high of $187.22. The business’s fifty day simple moving average is $177.74 and its 200-day simple moving average is $158.64.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is currently 51.06%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Compound Planning Inc. raised its holdings in shares of Bank Of Montreal by 6.7% in the 4th quarter. Compound Planning Inc. now owns 8,555 shares of the bank’s stock valued at $1,110,000 after purchasing an additional 535 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Bank Of Montreal during the fourth quarter valued at approximately $61,000. Mercer Global Advisors Inc. ADV raised its stake in Bank Of Montreal by 10.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,816 shares of the bank’s stock worth $1,014,000 after buying an additional 754 shares in the last quarter. Vident Advisory LLC raised its stake in Bank Of Montreal by 25.6% in the fourth quarter. Vident Advisory LLC now owns 3,724 shares of the bank’s stock worth $484,000 after buying an additional 759 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in Bank Of Montreal by 0.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 52,635 shares of the bank’s stock worth $6,831,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMO. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Friday. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Finally, Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Company Profile

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.