Bank Of Montreal (NYSE:BMO) Announces Earnings Results, Beats Expectations By $0.20 EPS

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

Bank Of Montreal Price Performance

NYSE:BMO opened at $126.66 on Friday. 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 has a 52 week low of $85.40 and a 52 week high of $131.36. The stock’s 50-day moving average price is $125.65 and its 200-day moving average price is $118.11. The stock has a market capitalization of $90.14 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.95.

Bank Of Montreal Increases Dividend

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

Hedge Funds Weigh In On Bank Of Montreal

A number of hedge funds have recently bought and sold shares of BMO. WFA of San Diego LLC purchased a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Larson Financial Group LLC lifted its position in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Bank Of Montreal during the 3rd quarter valued at approximately $42,000. Headlands Technologies LLC acquired a new stake in Bank Of Montreal in the 2nd quarter valued at $61,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Bank Of Montreal by 322.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the bank’s stock worth $72,000 after acquiring an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research reports. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $168.00 to $163.00 in a research report on Friday, October 3rd. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating for the company. Natl Bk Canada lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.