Code Waechter LLC Invests $282,000 in Bank Of Montreal (NYSE:BMO)

Code Waechter LLC acquired a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,952 shares of the bank's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. North Star Asset Management Inc. raised its stake in Bank Of Montreal by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock worth $817,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Bank Of Montreal by 2.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock worth $451,000 after acquiring an additional 120 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Bank Of Montreal by 5.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock worth $363,000 after acquiring an additional 196 shares in the last quarter. Grove Bank & Trust raised its stake in Bank Of Montreal by 39.2% during the 1st quarter. Grove Bank & Trust now owns 710 shares of the bank's stock worth $68,000 after acquiring an additional 200 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in Bank Of Montreal by 0.5% during the 4th quarter. Maryland State Retirement & Pension System now owns 43,093 shares of the bank's stock worth $4,182,000 after acquiring an additional 210 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Stock Performance

Shares of NYSE BMO traded up $1.52 during mid-day trading on Thursday, hitting $114.55. 700,587 shares of the company were exchanged, compared to its average volume of 805,827. The stock has a 50 day simple moving average of $105.80 and a 200-day simple moving average of $100.19. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $114.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $82.50 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting analysts' consensus estimates of $1.84. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. Bank Of Montreal's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS. On average, sell-side analysts forecast that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.12%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal's payout ratio is 57.33%.

Analysts Set New Price Targets

BMO has been the topic of several research analyst reports. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Scotiabank initiated coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Cibc World Mkts downgraded shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $129.50.

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.