Bank Of Montreal $BMO Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA reduced its stake in Bank of Montreal (BMO) by 7.2% in the second quarter, holding 25,942 shares valued at $2,832,000.
• Bank of Montreal has announced a quarterly dividend increase to $1.63 per share, representing a 5.0% yield and an annualized total of $6.52.
• The bank's earnings per share (EPS) for the last quarter were $2.33, exceeding analysts' expectations of $2.12, alongside a revenue of $6.51 billion.

Union Bancaire Privee UBP SA lessened its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,942 shares of the bank's stock after selling 2,002 shares during the period. Union Bancaire Privee UBP SA's holdings in Bank Of Montreal were worth $2,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BMO. Cary Street Partners Investment Advisory LLC increased its stake in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $39,000. CX Institutional purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. Finally, HM Payson & Co. purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank Of Montreal Stock Up 0.4%

Shares of NYSE:BMO opened at $130.27 on Wednesday. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $131.36. The firm has a market capitalization of $93.12 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.32 and a beta of 1.04. The stock has a 50 day moving average price of $119.94 and a 200-day moving average price of $108.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same quarter in the prior year, the company earned $2.64 EPS. The business's revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 5.0%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio is currently 58.63%.

Analyst Ratings Changes

BMO has been the subject of several recent analyst reports. Cowen restated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. UBS Group reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

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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