Dynamic Technology Lab Private Ltd Makes New $1.89 Million Investment in Bank Of Montreal $BMO

Key Points

• Dynamic Technology Lab Private Ltd has acquired 19,750 shares of Bank of Montreal, making a new investment valued at approximately $1.89 million.
• Bank of Montreal recently declared a quarterly dividend of $1.63, an increase from its previous dividend of $1.18, with a yield of 5.2%.
• Analysts have mixed ratings on Bank of Montreal, with one "Strong Buy," three "Buy," and four "Hold" ratings on the company's stock, leading to a consensus rating of "Moderate Buy".

Dynamic Technology Lab Private Ltd acquired a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,750 shares of the bank's stock, valued at approximately $1,886,000.

Other large investors have also recently bought and sold shares of the company. State of Wyoming grew its stake in Bank Of Montreal by 237.4% during the first quarter. State of Wyoming now owns 14,254 shares of the bank's stock worth $1,361,000 after buying an additional 10,029 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth about $380,000. Canada Pension Plan Investment Board grew its stake in Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after buying an additional 1,469,084 shares in the last quarter. Baskin Financial Services Inc. grew its stake in Bank Of Montreal by 134.2% during the first quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after buying an additional 4,256 shares in the last quarter. Finally, Code Waechter LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth $282,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on BMO shares. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Scotiabank reissued a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Royal Bank Of Canada boosted their target price on Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. CIBC raised Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday. Finally, Cibc World Mkts raised Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Moderate Buy" and a consensus price target of $168.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $126.10 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12 month low of $81.69 and a 12 month high of $127.20. The business's 50-day moving average price is $114.66 and its 200-day moving average price is $104.98. The firm has a market capitalization of $90.33 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.30 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. During the same period in the prior year, the company posted $2.64 EPS. The company's revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be given a $1.63 dividend. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.2%. Bank Of Montreal's dividend payout ratio is currently 57.53%.

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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