2,500 Shares in Bank Of Montreal $BMO Bought by Corient IA LLC

Key Points

• Corient IA LLC has acquired 2,500 shares of Bank Of Montreal, valued at approximately $239,000, marking a notable new position in the bank.
• Wall Street analysts have given Bank Of Montreal a consensus rating of "Hold" with an average target price of $129.50, indicating cautious optimism among investment firms.
• Bank Of Montreal announced an increase in its quarterly dividend to $1.1801 per share, reflecting a positive shift in its dividend policy with a yield of 4.2%.

Corient IA LLC purchased a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,500 shares of the bank's stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its position in shares of Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after buying an additional 190 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Bank Of Montreal during the first quarter valued at approximately $34,000. Dunhill Financial LLC purchased a new stake in shares of Bank Of Montreal during the fourth quarter valued at approximately $39,000. CX Institutional purchased a new stake in shares of Bank Of Montreal during the first quarter valued at approximately $42,000. Finally, HM Payson & Co. purchased a new stake in Bank Of Montreal in the first quarter worth $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BMO. National Bankshares reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Scotiabank began coverage on Bank Of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Barclays cut Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Finally, CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Trading Down 0.2%

Bank Of Montreal stock traded down $0.2170 during mid-day trading on Thursday, hitting $112.5130. The company's stock had a trading volume of 451,646 shares, compared to its average volume of 613,466. The company has a 50 day moving average of $111.66 and a 200-day moving average of $103.39. The stock has a market cap of $80.60 billion, a PE ratio of 14.59, a P/E/G ratio of 1.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a one year low of $81.13 and a one year high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%.The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period in the prior year, the business earned $2.59 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.2%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio (DPR) is currently 62.13%.

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.