Cetera Investment Advisers lessened its stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,668 shares of the bank’s stock after selling 3,299 shares during the quarter. Cetera Investment Advisers’ holdings in Bank Of Montreal were worth $6,587,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of BMO. Barometer Capital Management Inc. grew its stake in Bank Of Montreal by 3.4% in the first quarter. Barometer Capital Management Inc. now owns 44,500 shares of the bank’s stock worth $6,023,000 after purchasing an additional 1,455 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Bank Of Montreal during the first quarter valued at approximately $230,000. Andra AP fonden acquired a new stake in Bank Of Montreal during the first quarter valued at approximately $3,979,000. Aldebaran Capital LLC bought a new position in Bank Of Montreal during the 1st quarter worth approximately $230,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Bank Of Montreal by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,688,644 shares of the bank’s stock worth $499,186,000 after buying an additional 99,700 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on BMO shares. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus price target of $163.00.
Bank Of Montreal Stock Up 0.5%
NYSE:BMO opened at $179.51 on Friday. The firm has a market capitalization of $125.43 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. The stock has a 50 day moving average of $172.64 and a 200-day moving average of $153.63. Bank Of Montreal has a 52 week low of $109.64 and a 52 week high of $184.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $2.62 EPS. Analysts predict that Bank Of Montreal will post 11.82 EPS for the current year.
Bank Of Montreal Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s payout ratio is currently 51.06%.
About Bank Of Montreal
Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.
BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.
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