ASR Vermogensbeheer N.V. Trims Stake in Bank Of Montreal $BMO

Key Points

• ASR Vermogensbeheer N.V. has reduced its stake in Bank Of Montreal by 8.4% during the second quarter, selling 2,000 shares, bringing its total holdings to 21,855 shares valued at approximately $2.42 million.
• Bank Of Montreal recently announced a quarterly dividend of $1.63 per share, representing a yield of 5.1%, and marking an increase from the previous dividend of $1.18.
• The bank's quarterly earnings outperformed analyst expectations, reporting $2.33 earnings per share against an anticipated $2.12, while its revenue for the quarter was $6.51 billion, significantly below the forecasted $8.84 billion.

ASR Vermogensbeheer N.V. reduced its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,855 shares of the bank's stock after selling 2,000 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Bank Of Montreal were worth $2,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC increased 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 purchasing an additional 190 shares during the period. Bayforest Capital Ltd purchased a new position in Bank Of Montreal during the 1st quarter worth $34,000. Truvestments Capital LLC purchased a new position in Bank Of Montreal during the 1st quarter worth $39,000. CX Institutional purchased a new position in Bank Of Montreal during the 1st quarter worth $42,000. Finally, HM Payson & Co. purchased a new position in Bank Of Montreal during the 1st quarter worth $42,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Down 1.0%

Bank Of Montreal stock opened at $129.01 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $92.22 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.31 and a beta of 1.03. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $131.36. The business has a fifty day moving average price of $120.87 and a 200-day moving average price of $109.08.

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 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 analysts' expectations of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 EPS. Equities research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company 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. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.1%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's payout ratio is presently 58.63%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Royal Bank Of Canada downgraded Bank Of Montreal from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $168.00 to $163.00 in a report on Friday. Wall Street Zen downgraded Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank Of Montreal presently has an average rating of "Moderate Buy" and a consensus target price of $163.00.

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.

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