Bank of Montreal (TSE:BMO) Posts Earnings Results

Bank of Montreal (TSE:BMO) (NYSE:BMO) released its earnings results on Tuesday. The bank reported C$2.38 EPS for the quarter, FiscalAI reports. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. The company had revenue of C$9.90 billion for the quarter.

Bank of Montreal Price Performance

BMO opened at C$238.63 on Tuesday. The business has a 50 day simple moving average of C$249.86 and a two-hundred day simple moving average of C$220.03. The firm has a market capitalization of C$167.14 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.71 and a beta of 1.22. Bank of Montreal has a one year low of C$157.45 and a one year high of C$259.20.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 26th will be issued a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 2.9%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.67. Bank of Montreal’s dividend payout ratio (DPR) is presently 50.69%.

Insider Transactions at Bank of Montreal

In related news, Director William Darryl White sold 27,167 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the completion of the transaction, the director owned 87,166 shares in the company, valued at C$19,676,852.84. This represents a 23.76% decrease in their ownership of the stock. Also, insider Mona Elizabeth Malone sold 4,517 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$244.61, for a total value of C$1,104,903.37. Following the completion of the sale, the insider directly owned 1,758 shares of the company’s stock, valued at C$430,024.38. The trade was a 71.98% decrease in their position. In the last three months, insiders have sold 45,004 shares of company stock worth $10,339,904. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Desjardins upped their price target on shares of Bank of Montreal from C$230.00 to C$260.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Jefferies Financial Group boosted their target price on Bank of Montreal from C$213.00 to C$225.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Barclays increased their target price on Bank of Montreal from C$203.00 to C$240.00 in a report on Friday. National Bank Financial set a C$278.00 price target on Bank of Montreal and gave the stock a “sector perform” rating in a research report on Monday. Finally, Royal Bank Of Canada lifted their price target on Bank of Montreal from C$205.00 to C$230.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$249.00.

Bank of Montreal Company Profile

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.