Blair William & Co. IL Cuts Holdings in Bank Of Montreal (NYSE:BMO)

Key Points

• Blair William & Co. IL reduced its stake in Bank Of Montreal by 39.7%, selling 3,221 shares to hold a total of 4,884 shares worth approximately $467,000.
• A number of institutional investors have recently altered their positions, with notable actions including Invesco Ltd. increasing its stake by 35.8% and new acquisitions from Brooklyn FI LLC and Raymond James Financial Inc.
• The Bank Of Montreal has increased its quarterly dividend from $1.11 to $1.1801, representing a 4.2% yield based on an annualized payout ratio of 62.13%.

Blair William & Co. IL lowered its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 39.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,884 shares of the bank's stock after selling 3,221 shares during the quarter. Blair William & Co. IL's holdings in Bank Of Montreal were worth $467,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in shares of Bank Of Montreal in the first quarter valued at about $34,000. Dunhill Financial LLC bought a new position in shares of Bank Of Montreal in the fourth quarter valued at $39,000. HM Payson & Co. bought a new stake in Bank Of Montreal during the first quarter worth $42,000. CX Institutional acquired a new position in shares of Bank Of Montreal during the 1st quarter worth about $42,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth about $44,000. Institutional investors own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BMO shares. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Finally, Scotiabank started coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal Stock Down 0.6%

Shares of NYSE:BMO traded down $0.67 during midday trading on Friday, hitting $113.50. 182,778 shares of the company's stock were exchanged, compared to its average volume of 666,473. The company has a market cap of $81.30 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. The stock has a 50 day moving average price of $111.17 and a 200-day moving average price of $102.92. Bank Of Montreal has a 12 month low of $81.13 and a 12 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.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 10.25% and a return on equity of 10.15%. Bank Of Montreal's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.59 EPS. On average, sell-side 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 issued a $1.1801 dividend. 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 annualized dividend and a dividend yield of 4.2%. Bank Of Montreal's payout ratio is currently 62.13%.

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.