Bank Of Montreal (NYSE:BMO) is Letko Brosseau & Associates Inc.'s 4th Largest Position

Letko Brosseau & Associates Inc. trimmed its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,826,599 shares of the bank's stock after selling 52,365 shares during the period. Bank Of Montreal comprises about 3.7% of Letko Brosseau & Associates Inc.'s portfolio, making the stock its 4th largest holding. Letko Brosseau & Associates Inc. owned approximately 0.25% of Bank Of Montreal worth $174,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $34,000. Dunhill Financial LLC purchased a new stake in Bank Of Montreal in the fourth quarter valued at approximately $39,000. CX Institutional purchased a new stake in Bank Of Montreal in the first quarter valued at approximately $42,000. HM Payson & Co. purchased a new stake in Bank Of Montreal in the first quarter valued at approximately $42,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Bank Of Montreal during the first quarter worth $44,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

Shares of BMO traded up $0.41 during mid-day trading on Friday, reaching $110.85. 730,541 shares of the company's stock were exchanged, compared to its average volume of 680,838. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $109.93 and a two-hundred day simple moving average of $102.02. Bank Of Montreal has a 52-week low of $76.98 and a 52-week high of $115.66. The company has a market cap of $79.63 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.22 and a beta of 1.07.

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 analysts' consensus estimates of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period last year, the company posted $2.59 EPS. The company's revenue was up 8.8% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.3%. Bank Of Montreal's dividend payout ratio is 62.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BMO shares. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Scotiabank initiated coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Cibc World Mkts downgraded shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Wall Street Zen cut shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Hold" and a consensus price target of $129.50.

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.