Bank Of Montreal $BMO Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Bank Of Montreal by 4.9% in Q1, now owning 701,964 shares valued at $67.4 million after selling 36,203 shares.
• Bank Of Montreal recently declared a $1.63 per share quarterly dividend, up from the previous $1.18, with a payout ratio of 57.53%.
• Shares of Bank Of Montreal have seen varying analyst ratings, with one upgrade to a "strong-buy" and an average target price of $168.00.

Amundi reduced its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 701,964 shares of the bank's stock after selling 36,203 shares during the period. Amundi owned about 0.10% of Bank Of Montreal worth $67,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMO. Vanguard Group Inc. boosted its holdings in shares of Bank Of Montreal by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock valued at $2,960,102,000 after purchasing an additional 503,027 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Bank Of Montreal by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Bank Of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after purchasing an additional 1,630,962 shares during the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in shares of Bank Of Montreal by 6.8% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 6,711,773 shares of the bank's stock valued at $651,250,000 after purchasing an additional 426,442 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Bank Of Montreal by 213.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after purchasing an additional 2,899,061 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Down 0.3%

Shares of NYSE:BMO traded down $0.41 during midday trading on Friday, hitting $126.36. 320,137 shares of the company's stock traded hands, compared to its average volume of 663,061. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $90.52 billion, a PE ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 1.04. The firm's fifty day moving average price is $116.10 and its two-hundred day moving average price is $105.83. Bank Of Montreal has a twelve month low of $85.20 and a twelve month high of $127.37.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.21. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.64 EPS. On average, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $1.63 dividend. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.2%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio (DPR) is presently 58.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMO shares. Wall Street Zen lowered shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Cibc World Mkts upgraded shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Cowen reiterated a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Scotiabank reiterated a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.00.

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.