Apollon Wealth Management LLC Invests $222,000 in Bank Of Montreal $BMO

Key Points

• Apollon Wealth Management LLC has invested $222,000 in Bank Of Montreal, acquiring 2,011 shares during the second quarter.
• The bank has increased its quarterly dividend from $1.18 to $1.63, reflecting a 5.2% dividend yield.
• Despite mixed analyst ratings, Bank Of Montreal has a consensus rating of "Moderate Buy" with a target price of $163.00.

Apollon Wealth Management LLC bought a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,011 shares of the bank's stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its holdings in Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after acquiring an additional 190 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Bank Of Montreal during the 1st quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in shares of Bank Of Montreal during the 1st quarter valued at about $39,000. HM Payson & Co. acquired a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. Finally, Wayfinding Financial LLC bought a new stake in Bank Of Montreal in the first quarter worth approximately $44,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Ratings Changes

BMO has been the topic of a number of research analyst reports. Cowen restated a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. CIBC raised shares of Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada lowered shares of Bank Of Montreal from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $168.00 to $163.00 in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.00.

Bank Of Montreal Stock Up 0.2%

Bank Of Montreal stock opened at $124.96 on Friday. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The firm's fifty day moving average price is $123.84 and its two-hundred day moving average price is $111.16. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $131.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

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

Bank Of Montreal Increases Dividend

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

Bank Of Montreal Company 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.

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