Bank of Montreal (TSE:BMO) Releases Quarterly Earnings Results

Bank of Montreal (TSE:BMO) (NYSE:BMO) issued its quarterly earnings data on Thursday. The bank reported C$3.28 earnings per share for the quarter, FiscalAI reports. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%.The firm had revenue of C$9.34 billion during the quarter.

Bank of Montreal Price Performance

BMO stock traded up C$0.62 during trading on Thursday, hitting C$177.64. The stock had a trading volume of 2,476,029 shares, compared to its average volume of 2,768,329. The company’s 50-day moving average price is C$176.10 and its two-hundred day moving average price is C$163.47. Bank of Montreal has a twelve month low of C$121.31 and a twelve month high of C$182.90. The stock has a market capitalization of C$127.24 billion, a P/E ratio of 15.57, a PEG ratio of 0.71 and a beta of 1.38.

Bank of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 26th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, October 30th. Bank of Montreal’s dividend payout ratio is presently 55.74%.

Analyst Ratings Changes

Several equities research analysts have weighed in on BMO shares. Scotiabank set a C$179.00 price target on Bank of Montreal and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Natl Bk Canada downgraded shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday. Bank of America lifted their target price on shares of Bank of Montreal from C$159.00 to C$176.00 in a research note on Wednesday, August 27th. Jefferies Financial Group boosted their target price on shares of Bank of Montreal from C$173.00 to C$181.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$168.00 to C$163.00 in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Bank of Montreal currently has an average rating of “Hold” and a consensus target price of C$173.54.

Insider Activity

In other news, insider Alan Tannenbaum sold 9,824 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$175.12, for a total value of C$1,720,408.35. 0.03% of the stock is owned by insiders.

About Bank of Montreal

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.