Bank of Montreal hikes dividend despite lower profit

Marco Green
December 5, 2017

The biggest institutional shareholders in Bank Of Montreal include Royal Bank Of Canada which owns 48 million shares in the company valued at $3.55 B million. Greystone Managed Investments Inc. increased its holdings in Bank Of Montreal by 16.9% in the third quarter.

Excluding items, the company earned C$2.11 per share, beating analysts' average estimate by 12 Canadian cents, according to Thomson Reuters I/B/E/S. CIBC Asset Management Inc raised its position in Bank Of Montreal by 32.5% in the third quarter. Can now owns 6,098,215 shares of the bank's stock worth $460,556,000 after purchasing an additional 390,688 shares during the last quarter.

Profit from personal-and-commercial banking in the country rose 2.3% in the fiscal fourth quarter to a record $222 million from a year earlier, the Toronto-based bank said Tuesday in a statement. Finally, BidaskClub raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 19th. Dimensional Fund Advisors LP now owns 3,800,439 shares of the bank's stock worth $287,731,000 after purchasing an additional 41,934 shares during the last quarter.

Barclays PLC upgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from an underweight rating to an equal weight rating in a report released on Tuesday morning. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07. Bank of Montreal has a 52 week low of C$88.44 and a 52 week high of C$104.15. The firm has a market cap of $50,862.13, a PE ratio of 12.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.06.

For the full financial year, BMO reported a profit of $5.35 billion or $7.92 a share, up from $4.63 billion or $6.92 a share a year ago. TD Securities restated a hold rating and issued a C$105.00 price target on shares of Bank of Montreal in a report on Wednesday, March 1st. Finally, Scotiabank cut their target price on Bank of Montreal from C$103.00 to C$101.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 30th. Macquarie started coverage on shares of Bank Of Montreal in a report on Tuesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Bank Of Montreal now has an average rating of "Hold" and a consensus target price of $97.60.

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