Blair William & Co. IL Purchases 4,591 Shares of Bank Of Montreal $BMO

Key Points

• Blair William & Co. IL has increased its holdings in Bank of Montreal by 94.0% during the 2nd quarter, bringing their total shares to 9,475, valued at approximately $1,048,000.
• Bank of Montreal recently announced a quarterly dividend increase, with a pay-out of $1.63 per share, which translates to an annualized yield of 5.1%.
• Analyst ratings for Bank of Montreal have varied, with some upgrades to "strong-buy," while others have lowered ratings, resulting in a consensus rating of "Moderate Buy" with an average price target of $163.00.

Blair William & Co. IL raised its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 94.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,475 shares of the bank's stock after acquiring an additional 4,591 shares during the quarter. Blair William & Co. IL's holdings in Bank Of Montreal were worth $1,048,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Bank Of Montreal by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock valued at $2,960,102,000 after acquiring an additional 503,027 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Bank Of Montreal by 213.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after acquiring an additional 2,899,061 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Bank Of Montreal by 8.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank's stock valued at $376,165,000 after acquiring an additional 303,496 shares in the last quarter. Fiera Capital Corp boosted its position in Bank Of Montreal by 4.4% during the 1st quarter. Fiera Capital Corp now owns 3,864,901 shares of the bank's stock valued at $369,445,000 after acquiring an additional 163,087 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Bank Of Montreal by 66.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock valued at $351,154,000 after acquiring an additional 1,469,084 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on BMO shares. Cibc World Mkts raised Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen lowered shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. CIBC upgraded shares of Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank Of Montreal in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered shares of Bank Of Montreal from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $168.00 to $163.00 in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $128.23 on Thursday. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $131.36. The firm has a market cap of $91.66 billion, a P/E ratio of 15.69, a PEG ratio of 1.30 and a beta of 1.03. The company has a 50 day moving average of $123.35 and a 200 day moving average of $110.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same period in the previous year, the business earned $2.64 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio (DPR) is presently 58.63%.

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.

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