Assenagon Asset Management S.A. Has $2.35 Million Stake in Bank of Montreal (NYSE:BMO)

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

Several other large investors have also bought and sold shares of the company. IFP Advisors Inc lifted 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 lifted its stake in Bank of Montreal by 282.8% during 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 during the last quarter. Vision Financial Markets LLC bought a new stake in Bank of Montreal during the fourth quarter worth approximately $39,000. Dunhill Financial LLC acquired a new position in Bank of Montreal in the fourth quarter worth approximately $39,000. Finally, First Horizon Advisors Inc. grew its position in Bank of Montreal by 140.9% in 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 own 45.82% of the company's stock.

Bank of Montreal Stock Down 0.8%

NYSE:BMO traded down $0.82 on Tuesday, hitting $106.12. 417,939 shares of the company's stock traded hands, compared to its average volume of 659,096. The company has a market cap of $76.62 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $109.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $100.34 and a 200-day moving average price of $98.91.

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, hitting the consensus estimate of $1.84. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. Equities analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.45%. Bank of Montreal's dividend payout ratio (DPR) is 61.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMO. Cibc World Mkts lowered Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Barclays cut Bank of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Wall Street Zen raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Royal Bank of Canada lifted their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, CIBC restated a "neutral" rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Nine equities research 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.

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.