Bank of Montreal (NYSE:BMO) Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 37.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,819 shares of the bank’s stock after purchasing an additional 44,757 shares during the period. Capital International Inc. CA’s holdings in Bank of Montreal were worth $16,190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canoe Financial LP raised its holdings in Bank of Montreal by 300,456.3% during the fourth quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock worth $10,439,190,000 after purchasing an additional 105,475,200 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bank of Montreal by 1.9% during the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock worth $2,795,402,000 after purchasing an additional 544,767 shares in the last quarter. TD Asset Management Inc raised its holdings in Bank of Montreal by 19.9% during the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock worth $1,911,635,000 after purchasing an additional 3,187,998 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Bank of Montreal by 5.4% during the fourth quarter. Mackenzie Financial Corp now owns 14,495,589 shares of the bank’s stock worth $1,435,002,000 after purchasing an additional 738,579 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Bank of Montreal by 38.0% during the first quarter. National Bank of Canada FI now owns 14,069,787 shares of the bank’s stock worth $1,318,457,000 after purchasing an additional 3,874,573 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, UBS Group began coverage on shares of Bank of Montreal in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.50.

Bank of Montreal Price Performance

Shares of BMO stock traded up $0.35 during trading hours on Friday, hitting $87.33. The company’s stock had a trading volume of 3,920,166 shares, compared to its average volume of 818,631. The business has a fifty day moving average of $86.89 and a 200-day moving average of $91.50. The stock has a market cap of $63.70 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.13 and a beta of 1.12. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.10). The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.96 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. As a group, equities research analysts anticipate that Bank of Montreal will post 7.91 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be given a $1.125 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 5.15%. Bank of Montreal’s dividend payout ratio is currently 74.25%.

Bank of Montreal Company 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.