American Century Companies Inc. Boosts Holdings in Bank Of Montreal $BMO

Key Points

• American Century Companies Inc. increased its holdings in Bank of Montreal by 1.1%, acquiring an additional 2,233 shares, with total holdings now worth $18.76 million.
• Bank of Montreal announced a quarterly dividend of $1.1801 per share, reflecting a positive change from the prior dividend of $1.11, with a yield of 4.1%.
• A number of analysts have assigned ratings on BMO, with an average rating of "Hold" and a price target of $129.50, following mixed reviews on the stock's performance.

American Century Companies Inc. grew its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,451 shares of the bank's stock after purchasing an additional 2,233 shares during the quarter. American Century Companies Inc.'s holdings in Bank Of Montreal were worth $18,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC raised its holdings in Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal during the first quarter worth approximately $34,000. Dunhill Financial LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $39,000. CX Institutional acquired a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. Finally, HM Payson & Co. acquired a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

Shares of BMO traded up $0.04 during mid-day trading on Thursday, reaching $119.15. 245,125 shares of the company's stock were exchanged, compared to its average volume of 670,269. The business's fifty day simple moving average is $112.47 and its 200-day simple moving average is $103.88. Bank Of Montreal has a 52-week low of $81.69 and a 52-week high of $120.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $85.36 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.61%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same period last year, the firm posted $2.64 EPS. Bank Of Montreal's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a $1.63 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.5%. Bank Of Montreal's payout ratio is 62.13%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMO shares. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. National Bankshares reissued an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday. Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a research report on Wednesday. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $168.00.

Bank Of Montreal 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.