Candriam S.C.A. Has $32.95 Million Stake in Bank Of Montreal $BMO

Key Points

• Candriam S.C.A. increased its stake in Bank of Montreal by 16.5% in the first quarter, ending with 244,022 shares valued at about $32.95 million.
• Bank of Montreal beat quarterly expectations, reporting EPS of $2.68 versus the $2.54 estimate and revenue of $7.04 billion, with revenue up 10.2% year over year.
• The bank raised its quarterly dividend to $1.71 per share, implying an annualized payout of $6.84 and a yield of 3.8%.

Candriam S.C.A. increased its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,022 shares of the bank's stock after purchasing an additional 34,605 shares during the quarter. Candriam S.C.A.'s holdings in Bank Of Montreal were worth $32,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMO. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal in the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its stake in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank's stock worth $31,000 after purchasing an additional 196 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Bank Of Montreal during the fourth quarter valued at approximately $34,000. Finally, Swiss RE Ltd. acquired a new stake in Bank Of Montreal during the fourth quarter valued at approximately $38,000. Institutional investors own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Bank Of Montreal from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday. Raymond James Financial reiterated an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Zacks Research lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal presently has an average rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Price Performance

BMO traded up $2.42 during midday trading on Friday, hitting $179.08. The company had a trading volume of 474,832 shares, compared to its average volume of 758,948. Bank Of Montreal has a twelve month low of $109.64 and a twelve month high of $179.33. The company has a market capitalization of $125.43 billion, a PE ratio of 19.01, a P/E/G ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The firm's 50-day simple moving average is $165.05 and its 200-day simple moving average is $148.59.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. Bank Of Montreal's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.62 earnings per share. Equities research analysts predict that Bank Of Montreal will post 11.82 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, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.67. Bank Of Montreal's dividend payout ratio is 50.96%.

About Bank Of Montreal

Bank of Montreal NYSE: BMO, commonly known as BMO Financial Group, is one of Canada's largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO's core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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