Fiera Capital Corp Acquires 163,087 Shares of Bank Of Montreal (NYSE:BMO)

Key Points

• Fiera Capital Corp increased its stake in Bank of Montreal by 4.4% during the first quarter, owning approximately 3.86 million shares valued at about $369.45 million, constituting 1.3% of Fiera's holdings.
• Bank of Montreal declared a quarterly dividend of $1.1801, reflecting a 4.16% yield, which is an increase from the previous quarterly dividend of $1.11.
• Analysts currently give Bank of Montreal a consensus rating of "Hold" with one sell, seven hold, and one buy rating, and an average target price of $129.50.

Fiera Capital Corp raised its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 4.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,864,901 shares of the bank's stock after acquiring an additional 163,087 shares during the period. Bank Of Montreal makes up approximately 1.3% of Fiera Capital Corp's holdings, making the stock its 26th biggest position. Fiera Capital Corp owned approximately 0.53% of Bank Of Montreal worth $369,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCW Group Inc. bought a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $1,339,000. LPL Financial LLC lifted its stake in shares of Bank Of Montreal by 8.7% in the 1st quarter. LPL Financial LLC now owns 352,524 shares of the bank's stock worth $33,670,000 after purchasing an additional 28,256 shares during the period. Texas Yale Capital Corp. lifted its stake in shares of Bank Of Montreal by 9.4% in the 1st quarter. Texas Yale Capital Corp. now owns 12,488 shares of the bank's stock worth $1,193,000 after purchasing an additional 1,070 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Bank Of Montreal by 5.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 305,921 shares of the bank's stock worth $29,209,000 after purchasing an additional 14,583 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of Bank Of Montreal by 54.3% in the 1st quarter. HB Wealth Management LLC now owns 4,529 shares of the bank's stock worth $433,000 after purchasing an additional 1,593 shares during the period. Institutional investors own 45.82% of the company's stock.

Bank Of Montreal Price Performance

BMO traded down $0.09 during trading on Tuesday, reaching $113.25. 2,840,570 shares of the company traded hands, compared to its average volume of 660,788. 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 12-month low of $76.98 and a 12-month high of $115.66. The firm has a fifty day simple moving average of $109.63 and a 200 day simple moving average of $101.86. The company has a market cap of $81.35 billion, a P/E ratio of 14.69, a PEG ratio of 1.25 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data 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 net margin of 10.25% and a return on equity of 10.15%. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same period last year, the firm posted $2.59 EPS. The company's revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is 57.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMO. Scotiabank began coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. 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. CIBC reaffirmed a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.