Deutsche Bank AG Increases Stock Position in Bank of Montreal (NYSE:BMO)

Deutsche Bank AG raised its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,016,659 shares of the bank’s stock after acquiring an additional 76,720 shares during the quarter. Deutsche Bank AG’s holdings in Bank of Montreal were worth $98,667,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMO. Valeo Financial Advisors LLC grew its position in shares of Bank of Montreal by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank’s stock valued at $278,000 after acquiring an additional 125 shares during the period. Wealthspire Advisors LLC lifted its position in Bank of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank’s stock valued at $617,000 after purchasing an additional 125 shares in the last quarter. Caprock Group LLC grew its holdings in Bank of Montreal by 4.6% during the fourth quarter. Caprock Group LLC now owns 3,185 shares of the bank’s stock valued at $309,000 after purchasing an additional 139 shares during the period. Rhumbline Advisers increased its position in Bank of Montreal by 16.2% in the fourth quarter. Rhumbline Advisers now owns 1,049 shares of the bank’s stock worth $102,000 after buying an additional 146 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Bank of Montreal by 6.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,745 shares of the bank’s stock worth $266,000 after buying an additional 155 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Trading Up 0.4%

Shares of Bank of Montreal stock opened at $99.56 on Monday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $95.26 and a 200-day moving average price of $96.70. The firm has a market cap of $72.09 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio (DPR) is presently 57.35%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BMO shares. Royal Bank of Canada increased their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. CIBC cut Bank of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Friday, April 4th. Finally, Cibc World Mkts lowered Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $128.40.

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.