111 Capital Has $1.53 Million Position in Bank Of Montreal $BMO

Key Points

• 111 Capital reduced its stake in Bank Of Montreal (BMO) by 42.7% during Q2, now holding shares worth approximately $1.53 million.
• Bank Of Montreal recently increased its quarterly dividend to $1.63, yielding 5.1%, up from the previous dividend of $1.18.
• The bank reported Q3 earnings of $2.33 per share, exceeding expectations, despite a revenue figure lower than analyst predictions.

111 Capital cut its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 42.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,831 shares of the bank's stock after selling 10,310 shares during the quarter. 111 Capital's holdings in Bank Of Montreal were worth $1,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after acquiring an additional 190 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $34,000. Truvestments Capital LLC acquired a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $39,000. CX Institutional acquired a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $42,000. Finally, HM Payson & Co. acquired a new position in Bank Of Montreal in the first quarter valued at $42,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Stock Down 1.0%

Shares of NYSE:BMO opened at $129.01 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $131.36. The business's 50 day simple moving average is $120.87 and its two-hundred day simple moving average is $109.00. The firm has a market cap of $92.22 billion, a P/E ratio of 15.79, a PEG ratio of 1.32 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The company 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 firm earned $2.64 earnings per share. Bank Of Montreal's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.1%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's payout ratio is 58.63%.

Analysts Set New Price Targets

A number of analysts have weighed in on BMO shares. National Bankshares reissued an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. CIBC raised Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, September 5th. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank Of Montreal in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.00.

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.

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