Bank Of Montreal $BMO Position Trimmed by Value Partners Investments Inc.

Key Points

• Value Partners Investments trimmed its Bank of Montreal stake by 5.3% in the first quarter, selling 24,786 shares and leaving it with 440,552 shares valued at about $59.6 million.
• Analysts currently have a Hold-leaning view on BMO, with a consensus rating of Hold and an average price target of $163. Recent notes were mixed, including reaffirmed Outperform and Underweight calls.
• Bank of Montreal reported strong quarterly results, beating EPS and revenue estimates, and it also raised its quarterly dividend to $1.71 per share, implying a 3.9% annualized yield.

Value Partners Investments Inc. trimmed its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 440,552 shares of the bank's stock after selling 24,786 shares during the period. Bank Of Montreal comprises about 4.5% of Value Partners Investments Inc.'s portfolio, making the stock its 7th largest holding. Value Partners Investments Inc. owned approximately 0.06% of Bank Of Montreal worth $59,551,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Code Waechter LLC lifted its position in shares of Bank Of Montreal by 1.7% in the fourth quarter. Code Waechter LLC now owns 4,486 shares of the bank's stock valued at $582,000 after acquiring an additional 75 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Bank Of Montreal by 33.2% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Naples Global Advisors LLC raised its stake in Bank Of Montreal by 0.5% in the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank's stock valued at $2,308,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP lifted its holdings in Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank's stock valued at $276,000 after purchasing an additional 94 shares in the last quarter. Finally, Choreo LLC lifted its holdings in Bank Of Montreal by 3.6% in the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank's stock valued at $356,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Barclays restated an "underweight" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings cut shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Zacks Research lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Desjardins reaffirmed a "hold" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $175.24 on Friday. The firm has a 50 day simple moving average of $160.04 and a 200-day simple moving average of $145.33. The stock has a market cap of $122.74 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a 1-year low of $108.53 and a 1-year high of $175.54.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $7.04 billion for the quarter, compared to analysts' expectations of $6.98 billion. During the same period in the prior year, the firm posted $2.62 earnings per share. The firm's quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, July 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. Bank Of Montreal's dividend payout ratio is currently 50.96%.

About Bank Of Montreal

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.

Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.