Ascent Group LLC Makes New $254,000 Investment in Bank Of Montreal $BMO

Key Points

• Ascent Group LLC has made a new investment of approximately $254,000 in Bank of Montreal, acquiring 2,664 shares during the first quarter.
• Bank of Montreal recently declared a quarterly dividend of $1.63 per share, an increase from the previous $1.18, with a dividend yield of 5.1%.
• Analysts have mixed ratings on Bank of Montreal, with an average rating of "Moderate Buy" and a price target set at $168.00.

Ascent Group LLC bought a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,664 shares of the bank's stock, valued at approximately $254,000.

A number of other institutional investors have also recently bought and sold shares of the business. North Star Asset Management Inc. grew its holdings in Bank Of Montreal by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock worth $817,000 after acquiring an additional 100 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Bank Of Montreal by 2.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after buying an additional 120 shares during the period. Wealth Alliance LLC grew its holdings in shares of Bank Of Montreal by 1.8% in the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock valued at $778,000 after buying an additional 142 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after buying an additional 190 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Bank Of Montreal by 5.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock valued at $363,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $126.76 on Friday. The firm has a market cap of $90.81 billion, a PE ratio of 15.52, a PEG ratio of 1.29 and a beta of 1.04. 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 has a 1-year low of $84.05 and a 1-year high of $127.37. The company has a fifty day moving average price of $115.85 and a 200 day moving average price of $105.67.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.21. The firm had revenue of $6.51 billion during 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 company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be given a dividend of $1.63 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.1%. Bank Of Montreal's payout ratio is presently 58.63%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMO. UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. CIBC raised shares of Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Royal Bank Of Canada boosted their price target on shares of Bank Of Montreal from $161.00 to $168.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Cowen reissued a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Scotiabank reissued a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Bank Of Montreal has an average rating of "Moderate Buy" and an average price target 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.

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