Bank of New York Mellon Corp Grows Stock Holdings in Bank Of Montreal (NYSE:BMO)

Bank of New York Mellon Corp boosted its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 746,613 shares of the bank's stock after buying an additional 37,846 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Bank Of Montreal worth $71,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Dunhill Financial LLC bought a new stake in Bank Of Montreal during the 4th quarter valued at approximately $39,000. CX Institutional bought a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $42,000. Wayfinding Financial LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $44,000. Montag & Caldwell LLC acquired a new position in shares of Bank Of Montreal in the 4th quarter worth approximately $60,000. Finally, Garde Capital Inc. acquired a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $65,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Trading Down 0.8%

Shares of NYSE:BMO traded down $0.93 on Tuesday, reaching $112.64. 413,649 shares of the company traded hands, compared to its average volume of 796,938. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The business's 50-day simple moving average is $106.80 and its 200 day simple moving average is $100.60. The stock has a market capitalization of $81.13 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. Bank Of Montreal has a 52 week low of $76.98 and a 52 week high of $114.76.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting 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 for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.59 earnings per share. As a group, equities analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a $1.1801 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, July 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's payout ratio is 57.33%.

Analyst Ratings Changes

Several equities research analysts have recently commented on 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. Scotiabank assumed coverage on Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Finally, Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $129.50.

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.