Bank Of Montreal $BMO Shares Bought by Aviso Financial Inc.

Key Points

• Aviso Financial Inc. increased its stake in Bank of Montreal by 1.3%, acquiring an additional 13,860 shares, making BMO the largest position in its portfolio, worth approximately $99.5 million.
• Bank of Montreal recently announced a quarterly dividend of $1.1801 per share, an increase from its previous $1.11, resulting in an annualized dividend of $4.72 and a yield of 4.2%.
• Analysts have a mixed outlook on BMO, with some upgrading the stock to a "hold" rating while maintaining an average price target of $129.50, indicating potential upside from current trading levels.

Aviso Financial Inc. grew its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,041,732 shares of the bank's stock after acquiring an additional 13,860 shares during the period. Bank Of Montreal accounts for approximately 4.9% of Aviso Financial Inc.'s holdings, making the stock its largest position. Aviso Financial Inc. owned about 0.14% of Bank Of Montreal worth $99,517,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BMO. Brooklyn FI LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter worth $214,000. Townsquare Capital LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter worth $224,000. Mariner LLC boosted its holdings in shares of Bank Of Montreal by 8.0% during the 4th quarter. Mariner LLC now owns 50,178 shares of the bank's stock worth $4,870,000 after buying an additional 3,709 shares during the period. GeoWealth Management LLC boosted its holdings in shares of Bank Of Montreal by 2,038.9% during the 4th quarter. GeoWealth Management LLC now owns 1,155 shares of the bank's stock worth $112,000 after buying an additional 1,101 shares during the period. Finally, Forum Financial Management LP boosted its holdings in shares of Bank Of Montreal by 45.3% during the 4th quarter. Forum Financial Management LP now owns 7,958 shares of the bank's stock worth $772,000 after buying an additional 2,481 shares during the period. 45.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BMO has been the subject of several recent analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Scotiabank began coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Price Performance

Shares of BMO stock traded down $0.2170 during mid-day trading on Thursday, reaching $112.5130. The company's stock had a trading volume of 451,646 shares, compared to its average volume of 660,995. Bank Of Montreal has a 1-year low of $81.13 and a 1-year high of $115.66. The company has a market cap of $80.60 billion, a P/E ratio of 14.59, a PEG ratio of 1.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm's 50-day moving average is $111.58 and its two-hundred day moving average is $103.28.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the company posted $2.59 EPS. The business's revenue was up 8.8% on a year-over-year basis. On average, research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is currently 62.13%.

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.