Federated Hermes Inc. Acquires 37,281 Shares of Bank Of Montreal (NYSE:BMO)

Key Points

• Federated Hermes Inc. increased its holdings in Bank of Montreal by 3.2%, acquiring an additional 37,281 shares, bringing its total ownership to over 1.19 million shares valued at $114.39 million.
• Several institutional investors have recently modified their stakes in Bank of Montreal, with an overall ownership of 45.82% of the company's stock among these investors.
• Bank of Montreal declared a quarterly dividend increase to $1.1801 per share, representing a 4.16% yield and a boost from its previous dividend of $1.11.

Federated Hermes Inc. increased its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197,775 shares of the bank's stock after buying an additional 37,281 shares during the period. Federated Hermes Inc. owned about 0.17% of Bank Of Montreal worth $114,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new stake in shares of Bank Of Montreal in the 4th quarter worth $39,000. CX Institutional purchased a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. HM Payson & Co. purchased a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. Wayfinding Financial LLC acquired a new position in Bank Of Montreal during the first quarter worth approximately $44,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of Bank Of Montreal by 405.0% in the first quarter. TruNorth Capital Management LLC now owns 505 shares of the bank's stock valued at $48,000 after purchasing an additional 405 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Stock Down 1.8%

NYSE BMO traded down $2.09 on Wednesday, hitting $111.20. 636,072 shares of the stock traded hands, compared to its average volume of 680,804. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $109.63 and a 200 day moving average of $101.86. The company has a market capitalization of $79.88 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. Bank Of Montreal has a twelve month low of $76.98 and a twelve month high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same period last year, the company posted $2.59 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business 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 dividend of $1.1801 per share. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is 57.33%.

Analyst Ratings Changes

BMO has been the subject of a number of research reports. Wall Street Zen downgraded shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Cibc World Mkts lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Scotiabank started coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.