Bank Of Montreal (NYSE:BMO) Announces Earnings Results

Bank Of Montreal (NYSE:BMO) (TSE:BMO) released its earnings results on Thursday. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20, Zacks reports. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS.

Bank Of Montreal Trading Down 0.1%

Shares of BMO stock opened at $126.66 on Friday. The stock has a market cap of $90.14 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.84 and a beta of 0.95. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The business has a fifty day simple moving average of $125.65 and a 200-day simple moving average of $118.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 5.3%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, January 30th. Bank Of Montreal’s dividend payout ratio is currently 57.28%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. United Capital Financial Advisors LLC increased its position in Bank Of Montreal by 4.0% during the third quarter. United Capital Financial Advisors LLC now owns 2,619 shares of the bank’s stock worth $341,000 after buying an additional 101 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after purchasing an additional 167 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after buying an additional 196 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. raised its position in shares of Bank Of Montreal by 0.9% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 26,888 shares of the bank’s stock valued at $2,974,000 after buying an additional 241 shares during the last quarter. Finally, WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal during the second quarter valued at approximately $28,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMO has been the subject of several analyst reports. UBS Group reissued a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Natl Bk Canada cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday. National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $163.00.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.