Wellington Management Group LLP Increases Stock Position in Bank of Montreal (NYSE:BMO)

Wellington Management Group LLP grew its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,503 shares of the bank's stock after acquiring an additional 36,931 shares during the quarter. Wellington Management Group LLP's holdings in Bank of Montreal were worth $15,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares in the last quarter. Addison Advisors LLC grew its stake in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after purchasing an additional 246 shares during the period. Vision Financial Markets LLC purchased a new stake in Bank of Montreal during the fourth quarter worth about $39,000. Dunhill Financial LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter worth approximately $39,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after buying an additional 358 shares during the last quarter. Institutional investors own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMO. Royal Bank of Canada raised their target price on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. CIBC reaffirmed a "neutral" rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Wall Street Zen upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Scotiabank assumed coverage on shares of Bank of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Nine 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, Bank of Montreal currently has a consensus rating of "Hold" and a consensus target price of $128.40.

Bank of Montreal Trading Down 0.0%

BMO traded down $0.05 on Tuesday, hitting $107.81. 492,376 shares of the company were exchanged, compared to its average volume of 832,865. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day simple moving average of $97.39 and a two-hundred day simple moving average of $97.98. The stock has a market capitalization of $77.85 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $108.38.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting analysts' consensus estimates of $1.84. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 EPS. Sell-side analysts expect 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. Investors of record on Wednesday, July 30th will be paid a $1.1801 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.38%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. Bank of Montreal's dividend payout ratio (DPR) is presently 58.75%.

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.