Amundi Cuts Stock Position in Bank Of Montreal $BMO

Key Points

• Amundi reduced its Bank of Montreal stake by 14.3% in the first quarter, selling 184,218 shares and retaining 1.11 million shares valued at approximately $151.7 million.
• Analyst sentiment remains mixed: five analysts rate BMO a Buy, seven a Hold, and one a Sell, resulting in an average “Hold” rating and a $163 price target.
• Bank of Montreal exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend to $1.71 per share, equivalent to a 3.8% annualized yield.

Amundi lowered its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 14.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,105,043 shares of the bank's stock after selling 184,218 shares during the period. Amundi owned approximately 0.16% of Bank Of Montreal worth $151,686,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Code Waechter LLC grew its stake in Bank Of Montreal by 1.7% during the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank's stock worth $582,000 after purchasing an additional 75 shares in the last quarter. Larson Financial Group LLC raised its position in Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Naples Global Advisors LLC boosted its stake in shares of Bank Of Montreal by 0.5% in the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank's stock valued at $2,308,000 after buying an additional 80 shares during the period. Checchi Capital Advisers LLC grew its position in shares of Bank Of Montreal by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank's stock worth $425,000 after buying an additional 88 shares in the last quarter. Finally, Turn8 Private Wealth Inc. grew its position in shares of Bank Of Montreal by 0.8% during the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank's stock worth $1,514,000 after buying an additional 93 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James Financial reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Barclays restated an "underweight" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Desjardins reissued a "hold" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Stock Up 0.5%

Shares of NYSE BMO opened at $179.51 on Friday. The firm's 50-day moving average is $172.64 and its two-hundred day moving average is $153.63. The company has a market capitalization of $125.43 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a 12-month low of $109.64 and a 12-month high of $184.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

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

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. Bank Of Montreal's payout ratio is currently 51.06%.

Bank Of Montreal Company Profile

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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