6,830 Shares in Bank Of Montreal $BMO Acquired by Dickmeyer Boyce Financial Management Inc.

Key Points

• Dickmeyer Boyce Financial Management Inc. bought 6,830 shares of Bank of Montreal in the first quarter, a position valued at about $924,000.
• Bank of Montreal reported strong quarterly results, with EPS of $2.68 beating estimates and revenue of $7.04 billion topping expectations; analysts now expect full-year EPS of 11.82.
• The bank raised its quarterly dividend to $1.71 per share, implying an annualized yield of 3.9%, while analysts currently hold a consensus “Hold” rating with a $163 target price.

Dickmeyer Boyce Financial Management Inc. bought a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,830 shares of the bank's stock, valued at approximately $924,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BMO. Jefferies Financial Group Inc. raised its holdings in shares of Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank's stock valued at $62,233,000 after acquiring an additional 472,000 shares in the last quarter. Andra AP fonden bought a new position in shares of Bank Of Montreal during the first quarter valued at approximately $3,979,000. Mn Services Vermogensbeheer B.V. increased its holdings in Bank Of Montreal by 16.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank's stock valued at $21,484,000 after buying an additional 23,113 shares during the period. Vanguard Group Inc. increased its holdings in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank's stock valued at $4,287,878,000 after buying an additional 673,248 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank's stock worth $45,387,000 after buying an additional 333,994 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Down 1.4%

NYSE:BMO opened at $176.57 on Friday. The company has a market cap of $123.67 billion, a PE ratio of 18.74, a P/E/G ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a twelve month low of $109.64 and a twelve month high of $184.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company's 50 day moving average is $170.01 and its two-hundred day moving average is $151.86.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 earnings per share. Analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, July 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. Bank Of Montreal's dividend payout ratio (DPR) is presently 50.96%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research cut Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. TD Securities restated a "buy" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded Bank Of Montreal from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $163.00.

About Bank Of Montreal

Bank of Montreal NYSE: BMO, commonly known as BMO Financial Group, is one of Canada's largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO's core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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