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

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) issued its quarterly earnings results on Wednesday. The bank reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.63, reports. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $6.69 billion. Bank of Montreal had a return on equity of 17.71% and a net margin of 26.09%. The company’s revenue was up 53.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share.

Shares of BMO stock opened at $105.78 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Bank of Montreal has a 12-month low of $95.37 and a 12-month high of $122.77. The business’s 50 day moving average is $111.04 and its two-hundred day moving average is $111.88. The company has a market capitalization of $71.05 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.42 and a beta of 1.19.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Tuesday, August 2nd will be paid a $1.081 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Monday, August 1st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.05. Bank of Montreal’s payout ratio is currently 41.02%.

A number of research firms have issued reports on BMO. Barclays raised their price target on shares of Bank of Montreal from C$167.00 to C$171.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Credit Suisse Group assumed coverage on Bank of Montreal in a research report on Friday, May 20th. They set an “outperform” rating for the company. TD Securities cut their price objective on Bank of Montreal from C$160.00 to C$155.00 and set a “buy” rating on the stock in a report on Thursday. Desjardins lifted their target price on Bank of Montreal from C$157.00 to C$161.00 in a report on Thursday, March 3rd. Finally, initiated coverage on shares of Bank of Montreal in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from, the company has an average rating of “Buy” and a consensus target price of $156.00.

Several institutional investors have recently bought and sold shares of BMO. Cetera Investment Advisers grew its stake in Bank of Montreal by 3.1% in the 4th quarter. Cetera Investment Advisers now owns 3,776 shares of the bank’s stock valued at $407,000 after acquiring an additional 114 shares during the period. Vident Investment Advisory LLC grew its position in shares of Bank of Montreal by 1.7% in the first quarter. Vident Investment Advisory LLC now owns 7,472 shares of the bank’s stock valued at $877,000 after purchasing an additional 122 shares during the period. Cresset Asset Management LLC increased its stake in shares of Bank of Montreal by 3.3% during the first quarter. Cresset Asset Management LLC now owns 6,282 shares of the bank’s stock worth $741,000 after purchasing an additional 200 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Bank of Montreal by 3.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,432 shares of the bank’s stock valued at $877,000 after buying an additional 219 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Bank of Montreal by 7.4% in the 1st quarter. Evergreen Capital Management LLC now owns 3,347 shares of the bank’s stock worth $395,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 39.47% of the company’s stock.

About Bank of Montreal (Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

Further Reading

Earnings History for Bank of Montreal (NYSE:BMO)

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