Dynamic Technology Lab Private Ltd Invests $1.89 Million 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 bought a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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. Cary Street Partners Investment Advisory LLC grew its position in Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after acquiring an additional 190 shares during the period. Bayforest Capital Ltd bought a new stake in Bank Of Montreal in the first quarter valued at $34,000. Truvestments Capital LLC bought a new stake in Bank Of Montreal in the first quarter valued at $39,000. CX Institutional bought a new stake in Bank Of Montreal in the first quarter valued at $42,000. Finally, HM Payson & Co. bought a new stake in Bank Of Montreal in the first quarter valued at $42,000. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Trading Down 0.3%

NYSE:BMO traded down $0.36 during mid-day trading on Friday, hitting $126.41. The company had a trading volume of 94,386 shares, compared to its average volume of 669,427. Bank Of Montreal has a fifty-two week low of $85.20 and a fifty-two week high of $127.37. The business's fifty day moving average is $115.85 and its two-hundred day moving average is $105.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $90.55 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.29 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same quarter in the prior year, the firm posted $2.64 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a yield of 5.2%. Bank Of Montreal's payout ratio is currently 58.63%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMO shares. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Royal Bank Of Canada increased their target price on Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Cowen restated a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Finally, UBS Group restated a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Moderate Buy" and an average price target of $168.00.

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.