Bank Of Montreal $BMO Position Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Bank of Montreal by 2.8% in the first quarter, bringing its holdings to 3.69 million shares valued at about $499.2 million.
• Bank of Montreal recently beat quarterly earnings and revenue estimates, reporting EPS of $2.68 versus $2.54 expected and revenue of $7.04 billion, up 10.2% from a year earlier.
• The bank raised its quarterly dividend to $1.71 per share, equal to an annualized yield of 3.8%, while analysts currently rate the stock a consensus Hold with a target price of $163.00.

Dimensional Fund Advisors LP grew its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,688,644 shares of the bank's stock after acquiring an additional 99,700 shares during the quarter. Dimensional Fund Advisors LP owned about 0.53% of Bank Of Montreal worth $499,186,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Bank Of Montreal by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank's stock worth $4,287,878,000 after purchasing an additional 673,248 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Bank Of Montreal by 1.5% during the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank's stock valued at $2,519,180,000 after buying an additional 293,575 shares during the last quarter. FIL Ltd raised its holdings in shares of Bank Of Montreal by 15.2% during the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank's stock valued at $1,226,622,000 after buying an additional 1,245,500 shares during the last quarter. Norges Bank acquired a new position in shares of Bank Of Montreal during the fourth quarter worth approximately $1,059,320,000. Finally, Geode Capital Management LLC boosted its position in shares of Bank Of Montreal by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank's stock worth $932,242,000 after buying an additional 442,812 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMO has been the topic of several analyst reports. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Desjardins reiterated a "hold" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reissued an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Barclays restated an "underweight" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $163.00.

Bank Of Montreal Stock Down 2.2%

Shares of BMO stock opened at $178.06 on Tuesday. Bank Of Montreal has a 1 year low of $109.64 and a 1 year high of $184.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The business's fifty day moving average is $168.44 and its 200-day moving average is $150.85. The stock has a market cap of $124.71 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 3.8%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 50.96%.

Bank Of Montreal 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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