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

Bank of Montreal (NYSE:BMO) (TSE:BMO) posted its earnings results on Tuesday. The bank reported $2.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.64, Briefing.com reports. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.91 billion. Bank of Montreal had a net margin of 14.99% and a return on equity of 14.05%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 earnings per share.

Shares of NYSE BMO traded down $1.75 during trading hours on Friday, hitting $67.41. 80,110 shares of the stock were exchanged, compared to its average volume of 469,224. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day moving average is $77.37 and its 200 day moving average is $74.81. The firm has a market capitalization of $45.83 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.86 and a beta of 1.10. Bank of Montreal has a one year low of $66.42 and a one year high of $79.93.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 1st will be issued a dividend of $0.801 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.80. This represents a $3.20 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Thursday, April 30th. Bank of Montreal’s dividend payout ratio is currently 45.07%.

Several analysts recently issued reports on BMO shares. Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Wednesday. Credit Suisse Group upped their price objective on shares of Bank of Montreal from $93.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating and set a $109.00 price objective for the company in a report on Tuesday, December 3rd. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, January 18th. Finally, Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $100.20.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. 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, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

Further Reading: Growth Stocks

Earnings History for Bank of Montreal (NYSE:BMO)

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