Ascent Group LLC Takes Position 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 acquired a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,664 shares of the bank's stock, valued at approximately $254,000.

A number of other large investors have also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC raised its holdings in shares of 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 buying an additional 190 shares in the last quarter. Bayforest Capital Ltd bought a new position in Bank Of Montreal in the first quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Bank Of Montreal during the first quarter worth about $39,000. HM Payson & Co. bought a new position in shares of Bank Of Montreal in the first quarter worth about $42,000. Finally, CX Institutional acquired a new stake in shares of Bank Of Montreal in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Analysts Set New Price Targets

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

Bank Of Montreal Trading Up 1.0%

Bank Of Montreal stock traded up $1.25 during mid-day trading on Wednesday, hitting $131.12. 91,666 shares of the stock were exchanged, compared to its average volume of 667,028. The stock has a market capitalization of $93.93 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.31 and a beta of 1.04. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $131.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm's fifty day simple moving average is $116.77 and its two-hundred day simple moving average is $106.20.

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 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The company 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 company's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 EPS. Analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Thursday, October 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio is currently 58.63%.

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.