Bank Of Montreal $BMO Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 765,073 shares of the bank’s stock after acquiring an additional 18,460 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of Bank Of Montreal worth $84,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC raised its position in Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $39,000. Harbor Asset Planning Inc. acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at $39,000. Finally, Princeton Global Asset Management LLC boosted its holdings in Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. CIBC raised Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $123.57 on Friday. The firm has a market cap of $88.03 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. 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 business’s fifty day simple moving average is $126.80 and its 200-day simple moving average is $114.81.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same period in the prior year, the business posted $2.64 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.3%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 57.28%.

Bank Of Montreal 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.