Bank Of Montreal $BMO Shares Sold by Vertex Planning Partners LLC

Key Points

• Vertex Planning Partners LLC reduced its stake in Bank Of Montreal by 15.9%, selling 6,031 shares and now holds 31,959 shares worth approximately $3.05 million.
• Goldman Sachs Group Inc. significantly increased its holdings in Bank Of Montreal by 213.1%, owning over 4.25 million shares valued at $406.8 million after acquiring additional shares in the last quarter.
• Bank Of Montreal announced a quarterly dividend increase to $1.1801 per share, reflecting an annualized dividend yield of 4.2% and a dividend payout ratio of 62.13%.

Vertex Planning Partners LLC cut its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,959 shares of the bank's stock after selling 6,031 shares during the period. Vertex Planning Partners LLC's holdings in Bank Of Montreal were worth $3,052,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Bank Of Montreal by 213.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after purchasing an additional 2,899,061 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Bank Of Montreal by 42.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock valued at $664,742,000 after purchasing an additional 2,044,862 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Bank Of Montreal by 15.4% in the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after acquiring an additional 1,630,962 shares during the last quarter. Toronto Dominion Bank lifted its stake in Bank Of Montreal by 8.6% in the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock worth $1,244,284,000 after acquiring an additional 1,020,712 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Bank Of Montreal in the first quarter worth approximately $52,070,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Stock Up 0.0%

Shares of NYSE:BMO opened at $113.1250 on Wednesday. The company has a market capitalization of $81.04 billion, a PE ratio of 14.67, a P/E/G ratio of 1.25 and a beta of 1.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66. The firm has a 50 day simple moving average of $111.48 and a 200-day simple moving average of $103.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 EPS. On average, equities analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a $1.1801 dividend. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is presently 62.13%.

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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