Bank of Montreal (NYSE:BMO) Posts Earnings Results

Bank of Montreal (NYSE:BMO) (TSE:BMO) announced its earnings results on Tuesday. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12), Briefing.com reports. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company posted $2.08 EPS. The firm’s revenue was up .2% on a year-over-year basis.

Bank of Montreal Trading Up 1.3 %

NYSE:BMO traded up $1.08 during mid-day trading on Thursday, hitting $82.96. 749,849 shares of the stock traded hands, compared to its average volume of 880,370. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $100.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $60.50 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.04 and a beta of 1.12. The firm’s 50 day moving average is $84.74 and its two-hundred day moving average is $89.80.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be issued a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is 75.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BMO shares. Barclays lowered their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Desjardins downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Scotiabank lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $123.00 to $112.00 in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Company Profile

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.