Bank Of Montreal $BMO Holdings Lowered by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Bank of Montreal by 23.2% in the second quarter, now holding 50,678 shares worth approximately $5.6 million.
• Bank of Montreal has increased its quarterly dividend to $1.63, significantly up from $1.18, resulting in an annualized dividend of $6.52 and a yield of 5.0%.
• Despite a recent downgrade by Wall Street Zen to a "sell" rating, Bank of Montreal maintains a consensus rating of "Moderate Buy" with a target price increase to $168.00 from Royal Bank of Canada.

Public Employees Retirement System of Ohio reduced its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,678 shares of the bank's stock after selling 15,288 shares during the period. Public Employees Retirement System of Ohio's holdings in Bank Of Montreal were worth $5,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BMO. Cary Street Partners Investment Advisory LLC lifted its position in Bank Of Montreal by 228.9% in the first 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 bought a new stake in shares of Bank Of Montreal in the 1st quarter worth $34,000. Truvestments Capital LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter worth $39,000. CX Institutional acquired a new stake in shares of Bank Of Montreal in the first quarter valued at $42,000. Finally, HM Payson & Co. bought a new position in Bank Of Montreal during the first quarter valued at about $42,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cibc World Mkts upgraded shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen cut shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. UBS Group reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada raised their target price on shares of Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Finally, Scotiabank reaffirmed 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 assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

Bank Of Montreal Trading Up 0.9%

Shares of NYSE BMO opened at $130.58 on Monday. 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 one year low of $85.40 and a one year high of $131.26. The business has a 50-day moving average price of $119.33 and a two-hundred day moving average price of $108.03. The firm has a market capitalization of $93.35 billion, a PE ratio of 15.98, a PEG ratio of 1.33 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly 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. The business had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.0%. 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. Bank Of Montreal's dividend payout ratio (DPR) 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.

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