Bank of Montreal (BMO) to Release Earnings on Wednesday

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 24th. Analysts expect Bank of Montreal to post earnings of $2.35 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last posted its quarterly earnings results on Tuesday, February 28th. The bank reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.06. Bank of Montreal had a net margin of 22.13% and a return on equity of 13.65%. The firm had revenue of $4.80 billion during the quarter. On average, analysts expect Bank of Montreal to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $87.36 on Monday. The company has a 50 day moving average price of $88.37 and a 200-day moving average price of $93.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a fifty-two week low of $81.57 and a fifty-two week high of $110.67. The company has a market capitalization of $62.31 billion, a PE ratio of 7.13, a P/E/G ratio of 1.70 and a beta of 1.14.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, April 28th will be paid a $1.075 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $4.30 dividend on an annualized basis and a yield of 4.92%. Bank of Montreal’s payout ratio is 34.50%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Bank of Montreal by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,797,338 shares of the bank’s stock worth $249,271,000 after purchasing an additional 226,783 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of Bank of Montreal during the 1st quarter worth about $107,000. Steward Partners Investment Advisory LLC raised its position in shares of Bank of Montreal by 164.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,864 shares of the bank’s stock worth $344,000 after purchasing an additional 2,404 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal during the 1st quarter valued at about $36,000. Finally, First Trust Advisors LP grew its stake in Bank of Montreal by 4.5% during the 1st quarter. First Trust Advisors LP now owns 859,702 shares of the bank’s stock valued at $76,605,000 after acquiring an additional 36,987 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Bank of Montreal in a research note on Thursday. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $152.70.

About Bank of Montreal

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Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada.