Bank Of Montreal (NYSE:BMO) Stake Increased by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 237,194 shares of the bank's stock after buying an additional 3,298 shares during the quarter. Bank Of Montreal makes up about 1.5% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Cidel Asset Management Inc.'s holdings in Bank Of Montreal were worth $22,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BMO. Gold Investment Management Ltd. increased its stake in shares of Bank Of Montreal by 5.1% in the first quarter. Gold Investment Management Ltd. now owns 22,217 shares of the bank's stock valued at $2,122,000 after purchasing an additional 1,069 shares during the period. PDS Planning Inc grew its holdings in Bank Of Montreal by 8.2% in the 1st quarter. PDS Planning Inc now owns 4,056 shares of the bank's stock worth $387,000 after buying an additional 309 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Bank Of Montreal by 5.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock valued at $363,000 after acquiring an additional 196 shares during the period. Value Partners Investments Inc. raised its stake in Bank Of Montreal by 803.3% during the 1st quarter. Value Partners Investments Inc. now owns 508,135 shares of the bank's stock valued at $48,573,000 after acquiring an additional 451,881 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Bank Of Montreal by 1,240.6% during the 1st quarter. Bessemer Group Inc. now owns 323,226 shares of the bank's stock worth $30,896,000 after acquiring an additional 299,115 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Price Performance

Shares of NYSE BMO traded up $0.58 during midday trading on Tuesday, reaching $111.21. The company's stock had a trading volume of 285,628 shares, compared to its average volume of 821,622. Bank Of Montreal has a one year low of $76.98 and a one year high of $111.38. The company has a market cap of $80.10 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. The company has a 50 day moving average price of $103.35 and a 200 day moving average price of $99.48. 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 quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. The company had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 earnings per share. On average, equities research analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This represents a $4.72 annualized dividend and a dividend yield of 4.24%. 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. Bank Of Montreal's dividend payout ratio is currently 57.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Finally, Cibc World Mkts cut Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Company 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.