Assenagon Asset Management S.A. Lowers Holdings in Bank Of Montreal (NYSE:BMO)

Assenagon Asset Management S.A. reduced its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 50.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,620 shares of the bank's stock after selling 24,813 shares during the period. Assenagon Asset Management S.A.'s holdings in Bank Of Montreal were worth $2,351,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMO shares. 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. Scotiabank began coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Trading Down 0.9%

Shares of BMO traded down $0.99 during trading on Friday, reaching $105.26. 234,227 shares of the company traded hands, compared to its average volume of 653,914. The stock has a 50-day simple moving average of $101.26 and a 200-day simple moving average of $99.09. The stock has a market cap of $76.01 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. Bank Of Montreal has a twelve month low of $76.98 and a twelve month high of $109.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. The firm 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 firm'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 EPS. On average, analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a $1.1801 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.48%. 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 currently 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.