Bank Of Montreal $BMO Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its stake in Bank of Montreal by 2.1%, owning 1,354,442 shares after selling 28,877 shares during the first quarter.
• The bank reported $1.84 earnings per share for the quarter, consistent with analysts' expectations, but had revenue totaling $6.32 billion, significantly lower than the expected $8.79 billion.
• Bank of Montreal announced a quarterly dividend of $1.1801 per share, increasing from the previous dividend of $1.11, with an expected annual yield of 4.2%.

Newport Trust Company LLC reduced its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,354,442 shares of the bank's stock after selling 28,877 shares during the period. Newport Trust Company LLC owned approximately 0.19% of Bank Of Montreal worth $129,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. North Star Asset Management Inc. lifted its stake in Bank Of Montreal by 1.2% in the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock valued at $817,000 after buying an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Bank Of Montreal by 2.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after buying an additional 120 shares in the last quarter. Wealth Alliance LLC lifted its stake in Bank Of Montreal by 1.8% in the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock valued at $778,000 after buying an additional 142 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in 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 buying an additional 190 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Bank Of Montreal by 5.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock valued at $363,000 after buying an additional 196 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bank Of Montreal Trading Up 1.9%

Shares of NYSE BMO traded up $2.1350 during midday trading on Friday, reaching $114.6750. 628,595 shares of the stock were exchanged, compared to its average volume of 620,754. The company has a 50 day simple moving average of $111.82 and a 200 day simple moving average of $103.57. The stock has a market capitalization of $82.15 billion, a P/E ratio of 14.87, a PEG ratio of 1.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 business's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 EPS. As a group, equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's payout ratio is 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.