Bank Of Montreal (NYSE:BMO) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1,240.6% in the first 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 quarter. Bessemer Group Inc.'s holdings in Bank Of Montreal were worth $30,896,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. IFP Advisors Inc lifted its stake in shares of Bank Of Montreal by 179.5% in 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 increased its holdings in Bank Of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after buying an additional 246 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Bank Of Montreal in the fourth quarter valued at $39,000. Dunhill Financial LLC acquired a new position in shares of Bank Of Montreal in the fourth quarter worth about $39,000. Finally, CX Institutional purchased a new stake in shares of Bank Of Montreal during the 1st quarter worth about $42,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BMO shares. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Scotiabank began coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Wall Street Zen raised Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Finally, Cibc World Mkts lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Bank Of Montreal has an average rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal Price Performance

Shares of BMO traded up $2.39 during trading hours on Thursday, hitting $109.03. 520,766 shares of the stock were exchanged, compared to its average volume of 828,318. The stock's 50-day moving average price is $102.36 and its two-hundred day moving average price is $99.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $78.53 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. Bank Of Montreal has a 12-month low of $76.98 and a 12-month high of $109.14.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting 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 net margin of 10.25% and a return on equity of 10.15%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Research analysts expect 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. Shareholders of record on Wednesday, July 30th will be issued a $1.1801 dividend. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a yield of 4.33%. Bank Of Montreal's dividend payout ratio is presently 57.33%.

Bank Of Montreal Profile

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.