Bank of Montreal Declares Quarterly Dividend of $1.06 (TSE:BMO)

Bank of Montreal (TSE:BMO) (NYSE:BMO) announced a quarterly dividend on Wednesday, May 27th, RTT News reports. Stockholders of record on Tuesday, August 4th will be paid a dividend of 1.06 per share by the bank on Wednesday, August 26th. This represents a $4.24 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Friday, July 31st.

Shares of TSE BMO opened at C$75.07 on Thursday. The business’s 50 day moving average price is C$73.95 and its 200-day moving average price is C$80.14. Bank of Montreal has a fifty-two week low of C$55.76 and a fifty-two week high of C$104.75. The company has a market cap of $47.31 billion and a price-to-earnings ratio of 10.02.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported C$1.04 earnings per share for the quarter, missing the consensus estimate of C$1.33 by C($0.29). The firm had revenue of C$5.26 billion during the quarter, compared to analysts’ expectations of C$5.89 billion. Research analysts expect that Bank of Montreal will post 8.0699993 EPS for the current year.

BMO has been the topic of several recent analyst reports. TD Securities reduced their price target on Bank of Montreal from C$85.00 to C$80.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Cormark raised their price objective on Bank of Montreal from C$70.00 to C$74.00 in a report on Thursday, May 28th. CSFB raised their price objective on Bank of Montreal from C$75.00 to C$76.00 in a report on Thursday, May 28th. Royal Bank of Canada reduced their price objective on Bank of Montreal from C$76.00 to C$75.00 and set a “sector perform” rating on the stock in a report on Thursday, May 28th. Finally, Credit Suisse Group raised their price objective on Bank of Montreal from C$75.00 to C$76.00 in a report on Thursday, May 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$80.92.

In other Bank of Montreal news, Director George Cope purchased 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average price of C$76.85 per share, for a total transaction of C$99,905.00. Following the purchase, the director now directly owns 26,960 shares in the company, valued at C$2,071,876.

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.

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Dividend History for Bank of Montreal (TSE:BMO)

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