Bank Of Montreal $BMO is Mufg Securities Canada LTD.'s 6th Largest Position

Key Points

• MUFG Securities Canada reduced its Bank of Montreal stake by 5.4% in the second quarter, but still held 991,466 shares worth approximately $175 million, making BMO its sixth-largest position.
• Bank of Montreal exceeded quarterly expectations, reporting $2.84 in EPS versus the $2.71 consensus and revenue of $7.10 billion, up 10.1% year over year.
• BMO announced a quarterly dividend of $1.71 per share, equal to a $6.84 annualized payout and a 4.0% yield. Analysts have a consensus “Hold” rating with an average price target of $163.

Mufg Securities Canada LTD. trimmed its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 991,466 shares of the bank's stock after selling 56,101 shares during the period. Bank Of Montreal comprises about 4.6% of Mufg Securities Canada LTD.'s holdings, making the stock its 6th biggest position. Mufg Securities Canada LTD. owned about 0.14% of Bank Of Montreal worth $174,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Oarsman Capital Inc. purchased a new position in Bank Of Montreal in the 2nd quarter valued at approximately $208,000. Susquehanna Fundamental Investments LLC boosted its position in Bank Of Montreal by 222.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 287,700 shares of the bank's stock worth $50,837,000 after purchasing an additional 198,600 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Bank Of Montreal by 7.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 26,886 shares of the bank's stock valued at $4,751,000 after purchasing an additional 1,824 shares during the last quarter. Greenleaf Trust acquired a new stake in Bank Of Montreal in the second quarter valued at $260,000. Finally, Hsbc Holdings PLC increased its position in shares of Bank Of Montreal by 2.7% in the second quarter. Hsbc Holdings PLC now owns 5,188 shares of the bank's stock valued at $915,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

Shares of BMO opened at $170.39 on Tuesday. Bank Of Montreal has a 1 year low of $118.66 and a 1 year high of $187.22. The company's 50 day simple moving average is $177.88 and its 200 day simple moving average is $159.69. The company has a market capitalization of $118.79 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $6.94 billion. During the same period in the previous year, the company earned $3.23 EPS. Bank Of Montreal's revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal's dividend payout ratio is presently 54.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They issued an "outperform" rating on the stock. Desjardins restated a "hold" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings downgraded shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Barclays reissued an "underweight" rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Finally, TD Securities restated a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal NYSE: BMO, commonly known as BMO Financial Group, is one of Canada's largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO's core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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