JPMorgan Chase & Co. Has $376.17 Million Stake in Bank Of Montreal (NYSE:BMO)

Key Points

• JPMorgan Chase & Co. increased its stake in Bank Of Montreal by 8.3%, acquiring an additional 303,496 shares during the first quarter.
• Bank Of Montreal announced a quarterly dividend of $1.1801 per share, boosting its annualized dividend yield to 4.2%.
• Despite a year-over-year revenue increase of 8.8%, the bank’s recent financial results reflected earnings per share (EPS) that met analysts’ expectations at $1.84.

JPMorgan Chase & Co. raised its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,938,484 shares of the bank's stock after purchasing an additional 303,496 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.54% of Bank Of Montreal worth $376,165,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BMO. Brooklyn FI LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter worth about $214,000. Raymond James Financial Inc. bought a new stake in shares of Bank Of Montreal during the 4th quarter worth about $48,353,000. Townsquare Capital LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter worth about $224,000. Mariner LLC boosted its stake in Bank Of Montreal by 8.0% during the 4th quarter. Mariner LLC now owns 50,178 shares of the bank's stock valued at $4,870,000 after purchasing an additional 3,709 shares during the period. Finally, Montag & Caldwell LLC bought a new stake in Bank Of Montreal during the 4th quarter valued at approximately $60,000. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

BMO has been the subject of several recent analyst reports. Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Scotiabank began coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday. Finally, Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Price Performance

Shares of BMO traded down $0.74 during mid-day trading on Friday, reaching $113.43. The company had a trading volume of 422,441 shares, compared to its average volume of 815,436. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The company's 50-day moving average is $111.27 and its 200-day moving average is $103.01. The company has a market capitalization of $81.26 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.25 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its 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. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period in the prior year, the firm posted $2.59 EPS. Bank Of Montreal's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Bank Of Montreal will post 7.71 EPS 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. Investors of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a yield of 4.2%. This is a positive change 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.