Dimensional Fund Advisors LP Sells 39,710 Shares of Bank Of Montreal $BMO

Key Points

• Dimensional Fund Advisors LP has reduced its holdings in Bank of Montreal by 1.1%, selling 39,710 shares, and now owns approximately 0.49% of the bank with a value of $340.4 million.
• Bank of Montreal has announced a quarterly dividend increase to $1.1801 per share, reflecting a 4.2% dividend yield, with the ex-dividend date set for July 30th.
• Equity analysts have mixed ratings for Bank of Montreal, with eight rating it as a hold and two as a buy, currently having a consensus price target of $129.50.

Dimensional Fund Advisors LP cut its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,564,378 shares of the bank's stock after selling 39,710 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.49% of Bank Of Montreal worth $340,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Bank Of Montreal by 1.6% in the first quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock valued at $2,960,102,000 after purchasing an additional 503,027 shares during the last quarter. Toronto Dominion Bank boosted its stake in Bank Of Montreal by 8.6% during the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the period. Mackenzie Financial Corp grew its holdings in Bank Of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after buying an additional 1,630,962 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Bank Of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after buying an additional 2,044,862 shares during the period. Finally, JARISLOWSKY FRASER Ltd lifted its holdings in shares of Bank Of Montreal by 6.8% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 6,711,773 shares of the bank's stock worth $651,250,000 after buying an additional 426,442 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Price Performance

Shares of BMO traded down $0.1940 during trading hours on Thursday, hitting $112.5360. The stock had a trading volume of 278,578 shares, compared to its average volume of 659,724. The stock has a market capitalization of $80.62 billion, a price-to-earnings 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 current ratio of 1.00 and a quick ratio of 1.00. The company's fifty day moving average is $111.58 and its two-hundred day moving average is $103.28. Bank Of Montreal has a 52 week low of $81.13 and a 52 week high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 7.71 EPS 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 paid a $1.1801 dividend. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's payout ratio is presently 62.13%.

Wall Street Analysts Forecast Growth

BMO has been the topic of several research analyst reports. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. National Bankshares reissued an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Finally, Scotiabank assumed coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $129.50.

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.