Bessemer Group Inc. Raises Stock Position in Bank Of Montreal (NYSE:BMO)

Bessemer Group Inc. grew its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1,240.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 323,226 shares of the bank's stock after acquiring an additional 299,115 shares during the period. Bessemer Group Inc.'s holdings in Bank Of Montreal were worth $30,896,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc raised its position in shares of Bank Of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC raised its position in shares of Bank Of Montreal by 282.8% during the 4th 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 period. Vision Financial Markets LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter valued at $39,000. Dunhill Financial LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter valued at $39,000. Finally, CX Institutional bought a new stake in shares of Bank Of Montreal during the 1st quarter valued at $42,000. 45.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cibc World Mkts downgraded shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Nine 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, Bank Of Montreal presently has an average rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Price Performance

BMO traded down $0.04 during trading on Friday, hitting $109.06. 610,568 shares of the company traded hands, compared to its average volume of 824,289. The company has a market cap of $78.55 billion, a PE ratio of 14.15, a P/E/G ratio of 1.20 and a beta of 1.08. The stock's 50-day simple moving average is $102.99 and its two-hundred day simple moving average is $99.40. Bank Of Montreal has a 1 year low of $76.98 and a 1 year high of $109.83. 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 (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 the consensus estimate of $1.84. The company 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 10.25% and a return on equity of 10.15%. Bank Of Montreal's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $2.59 earnings per share. As a group, sell-side analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This is a boost 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 4.33%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 57.33%.

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.