Bank Of Montreal (NYSE:BMO) Stake Boosted by Bank of Nova Scotia Trust Co.

Key Points

• Bank of Nova Scotia Trust Co. raised its holdings in Bank Of Montreal by 0.5%, owning 506,324 shares worth approximately $48.36 million, making it the second largest holding in their portfolio.
• Bank Of Montreal recently declared a quarterly dividend of $1.1801, representing a positive increase from the previous dividend of $1.11, with an annualized yield of 4.3%.
• The stock has shown a price increase of 0.4%, with a current market capitalization of $79.63 billion and a consensus target price of $129.50 among analysts.

Bank of Nova Scotia Trust Co. boosted its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 506,324 shares of the bank's stock after buying an additional 2,710 shares during the quarter. Bank Of Montreal makes up about 5.2% of Bank of Nova Scotia Trust Co.'s holdings, making the stock its 2nd biggest holding. Bank of Nova Scotia Trust Co. owned about 0.07% of Bank Of Montreal worth $48,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J. Safra Sarasin Holding AG purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth about $529,000. PNC Financial Services Group Inc. lifted its position in shares of Bank Of Montreal by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,518 shares of the bank's stock worth $2,342,000 after purchasing an additional 197 shares during the period. Alberta Investment Management Corp lifted its position in shares of Bank Of Montreal by 22.2% in the 1st quarter. Alberta Investment Management Corp now owns 1,700,523 shares of the bank's stock worth $162,366,000 after purchasing an additional 308,523 shares during the period. Natixis Advisors LLC lifted its position in shares of Bank Of Montreal by 41.5% in the 1st quarter. Natixis Advisors LLC now owns 51,179 shares of the bank's stock worth $4,888,000 after purchasing an additional 15,004 shares during the period. Finally, NorthRock Partners LLC lifted its position in shares of Bank Of Montreal by 1.2% in the 1st quarter. NorthRock Partners LLC now owns 18,153 shares of the bank's stock worth $1,734,000 after purchasing an additional 212 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Performance

Shares of NYSE BMO traded up $1.13 during trading on Monday, reaching $111.95. 256,408 shares of the company traded hands, compared to its average volume of 828,673. The firm has a 50 day simple moving average of $110.06 and a 200-day simple moving average of $102.15. 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 capitalization of $80.42 billion, a PE ratio of 14.52, a P/E/G ratio of 1.22 and a beta of 1.07. Bank Of Montreal has a 52-week low of $76.98 and a 52-week high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion for 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 business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. Equities research analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm 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. 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. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.2%. Bank Of Montreal's payout ratio is 62.13%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. CIBC reiterated 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 note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Hold" and a consensus target price 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.