Bank Of Montreal (NYSE:BMO) Shares Acquired by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. increased its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 6,664.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,072 shares of the bank's stock after buying an additional 140,957 shares during the period. Bank Of Montreal comprises about 2.7% of Triasima Portfolio Management inc.'s holdings, making the stock its 6th largest position. Triasima Portfolio Management inc.'s holdings in Bank Of Montreal were worth $13,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC raised its stake in Bank Of Montreal by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 22,296 shares of the bank's stock valued at $2,164,000 after purchasing an additional 2,322 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Bank Of Montreal by 10.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,601 shares of the bank's stock valued at $349,000 after purchasing an additional 337 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Bank Of Montreal by 30.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,746 shares of the bank's stock valued at $655,000 after purchasing an additional 1,591 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Bank Of Montreal by 1.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 55,674 shares of the bank's stock valued at $5,403,000 after purchasing an additional 988 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Bank Of Montreal by 16.7% in the 4th quarter. Natixis Advisors LLC now owns 36,175 shares of the bank's stock valued at $3,511,000 after purchasing an additional 5,185 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on BMO shares. 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 report on Thursday, May 15th. They issued a "sector perform" rating for the company. Cibc World Mkts cut Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Stock Performance

BMO traded up $0.68 during trading hours on Thursday, hitting $114.36. 446,506 shares of the stock were exchanged, compared to its average volume of 795,945. The stock has a 50-day simple moving average of $107.40 and a 200-day simple moving average of $100.77. Bank Of Montreal has a 12 month low of $76.98 and a 12 month high of $115.58. The stock has a market cap of $82.15 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same period last year, the business posted $2.59 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm 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. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.13%. 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. Bank Of Montreal's dividend payout ratio (DPR) is 57.33%.

About Bank Of Montreal

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.