Gulf International Bank UK Ltd lifted its stake in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,535 shares of the bank’s stock after acquiring an additional 332 shares during the period. Gulf International Bank UK Ltd’s holdings in Bank of Montreal were worth $442,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Principal Securities Inc. bought a new position in shares of Bank of Montreal in the 4th quarter valued at approximately $33,000. Cullen Frost Bankers Inc. increased its position in Bank of Montreal by 3,375.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after buying an additional 405 shares during the period. Headlands Technologies LLC bought a new position in Bank of Montreal in the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC increased its position in Bank of Montreal by 39.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after buying an additional 130 shares during the period. Finally, IAG Wealth Partners LLC increased its position in Bank of Montreal by 117.5% in the 4th quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock worth $49,000 after buying an additional 268 shares during the period. 45.82% of the stock is owned by institutional investors.
Bank of Montreal Stock Performance
BMO opened at $83.77 on Monday. The stock has a market cap of $61.09 billion, a PE ratio of 13.92, a P/E/G ratio of 2.08 and a beta of 1.12. 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 has a 1 year low of $73.98 and a 1 year high of $100.12. The stock’s 50 day simple moving average is $90.28 and its 200-day simple moving average is $93.12.
Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 29th. The bank reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.96 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. Sell-side analysts forecast that Bank of Montreal will post 7.91 EPS for the current year.
Bank of Montreal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be paid a $1.125 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.37%. Bank of Montreal’s payout ratio is currently 74.25%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on BMO shares. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. Barclays assumed coverage on Bank of Montreal in a research report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Finally, StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.50.
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.
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