Free Trial

Bank Of Montreal (NYSE:BMO) Shares Sold by Bank of Nova Scotia

Bank Of Montreal logo with Finance background

Key Points

  • Bank of Nova Scotia reduced its holdings in Bank of Montreal by 5.6% during the 1st quarter, now owning 8,409,367 shares valued at approximately $803.15 million, which makes up 1.9% of its portfolio.
  • The Bank of Montreal has recently faced multiple analyst downgrades, with one report lowering its rating from "hold" to "sell," reflecting concerns about its stock performance.
  • Bank of Montreal announced a quarterly dividend increase to $1.1801 per share, a boost from the previous dividend, yielding approximately 4.3% annually.
  • Five stocks we like better than Bank Of Montreal.

Bank of Nova Scotia reduced its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,409,367 shares of the bank's stock after selling 498,045 shares during the quarter. Bank Of Montreal makes up about 1.9% of Bank of Nova Scotia's holdings, making the stock its 8th largest position. Bank of Nova Scotia owned about 1.16% of Bank Of Montreal worth $803,152,000 at the end of the most recent quarter.

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

Bank Of Montreal Stock Performance

BMO traded up $1.13 during trading hours on Monday, hitting $111.95. The stock had a trading volume of 256,408 shares, compared to its average volume of 828,673. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a market cap of $80.42 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.22 and a beta of 1.07. Bank Of Montreal has a 1 year low of $76.98 and a 1 year high of $115.66. The company's fifty day simple moving average is $110.06 and its 200 day simple moving average is $102.15.

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 analysts' consensus estimates of $1.84. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 EPS. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be issued a $1.1801 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio is currently 62.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BMO shares. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $129.50.

View Our Latest Analysis on Bank Of Montreal

Bank Of Montreal Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Bank Of Montreal (NYSE:BMO)

Should You Invest $1,000 in Bank Of Montreal Right Now?

Before you consider Bank Of Montreal, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank Of Montreal wasn't on the list.

While Bank Of Montreal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The 10 Best AI Stocks to Own in 2025 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines