Atlas Capital Advisors Inc. Grows Stock Holdings in Bank Of Montreal (NYSE:BMO)

Key Points

• Atlas Capital Advisors Inc. increased its stake in Bank Of Montreal by 1,997.9%, holding 3,986 shares valued at $381,000 after acquiring an additional 3,796 shares in the first quarter.
• The Bank Of Montreal reported $1.84 earnings per share for the most recent quarter, meeting analysts' expectations, while quarterly revenue grew 8.8% year-over-year.
• Bank Of Montreal announced a quarterly dividend of $1.1801, representing a 4.2% yield, up from its previous dividend of $1.11.

Atlas Capital Advisors Inc. increased its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1,997.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,986 shares of the bank's stock after buying an additional 3,796 shares during the period. Atlas Capital Advisors Inc.'s holdings in Bank Of Montreal were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. raised its position in shares of Bank Of Montreal by 5.3% in the first quarter. Benjamin Edwards Inc. now owns 6,997 shares of the bank's stock valued at $668,000 after buying an additional 352 shares in the last quarter. JPMorgan Chase & Co. raised its position in Bank Of Montreal by 8.3% during the first quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank's stock valued at $376,165,000 after purchasing an additional 303,496 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Bank Of Montreal by 5.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,930,906 shares of the bank's stock valued at $184,420,000 after purchasing an additional 103,149 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Bank Of Montreal during the first quarter valued at approximately $5,839,000. Finally, PCJ Investment Counsel Ltd. increased its holdings in shares of Bank Of Montreal by 29.1% during the first quarter. PCJ Investment Counsel Ltd. now owns 56,870 shares of the bank's stock worth $5,432,000 after buying an additional 12,830 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Stock Up 1.2%

Shares of BMO traded up $1.33 on Wednesday, reaching $114.58. The company's stock had a trading volume of 999,718 shares, compared to its average volume of 670,877. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66. The stock has a market capitalization of $82.31 billion, a PE ratio of 14.86, a PEG ratio of 1.24 and a beta of 1.07. The firm has a fifty day moving average of $110.92 and a 200-day moving average of $102.75.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. The firm 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%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $2.59 EPS. Equities analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced 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. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's payout ratio is presently 62.13%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Finally, Scotiabank started coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bank Of Montreal currently has a consensus rating of "Hold" and an average price target of $129.50.

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.