23,855 Shares in Bank Of Montreal (NYSE:BMO) Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. acquired 23,855 shares in Bank Of Montreal (NYSE:BMO), valued at approximately $2,278,000, marking a new investment in the bank's stock.
• Bank Of Montreal's quarterly dividend has been increased to $1.1801 per share, up from the previous $1.11, representing a 4.2% yield.
• Wall Street analysts have generally rated Bank Of Montreal as a "hold," with an average price target of $129.50.

ASR Vermogensbeheer N.V. bought a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,855 shares of the bank's stock, valued at approximately $2,278,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Star Asset Management Inc. raised its holdings in shares of Bank Of Montreal by 1.2% in the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock valued at $817,000 after purchasing an additional 100 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Bank Of Montreal by 2.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after purchasing an additional 120 shares during the period. Wealth Alliance LLC raised its holdings in shares of Bank Of Montreal by 1.8% in the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock valued at $778,000 after purchasing an additional 142 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after purchasing an additional 190 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Bank Of Montreal by 5.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock valued at $363,000 after purchasing an additional 196 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday. Scotiabank initiated coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Finally, CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Bank Of Montreal currently has an average rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Stock Up 0.2%

Shares of BMO opened at $112.82 on Friday. Bank Of Montreal has a 12 month low of $80.97 and a 12 month high of $115.66. The firm's 50 day moving average is $110.72 and its 200-day moving average is $102.56. The stock has a market capitalization of $81.04 billion, a PE ratio of 14.63, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same period last year, the firm earned $2.59 earnings per share. The business's revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's payout ratio is 62.13%.

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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