Focus Partners Advisor Solutions LLC Purchases Shares of 2,504 Bank Of Montreal $BMO

Key Points

• Focus Partners Advisor Solutions LLC acquired 2,504 shares of Bank of Montreal (NYSE:BMO), worth approximately $239,000, in its recent SEC filing.
• The company recently declared a quarterly dividend of $1.63 per share, which represents an annualized dividend yield of 5.2%, up from a previous $1.18.
• Bank of Montreal's stock has a current market capitalization of $90.33 billion and reported an EPS of $2.33 for the last quarter, exceeding analyst predictions.

Focus Partners Advisor Solutions LLC purchased a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,504 shares of the bank's stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. State of Wyoming lifted its position in shares of Bank Of Montreal by 237.4% during the 1st quarter. State of Wyoming now owns 14,254 shares of the bank's stock worth $1,361,000 after purchasing an additional 10,029 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Bank Of Montreal by 66.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after purchasing an additional 1,469,084 shares during the last quarter. Baskin Financial Services Inc. lifted its position in shares of Bank Of Montreal by 134.2% during the 1st quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after purchasing an additional 4,256 shares during the last quarter. Code Waechter LLC purchased a new stake in shares of Bank Of Montreal during the 1st quarter worth $282,000. Finally, Cetera Investment Advisers lifted its position in shares of Bank Of Montreal by 185.1% during the 4th quarter. Cetera Investment Advisers now owns 55,745 shares of the bank's stock worth $5,410,000 after purchasing an additional 36,195 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $126.10 on Monday. The company has a 50-day simple moving average of $114.66 and a 200-day simple moving average of $105.01. Bank Of Montreal has a one year low of $81.69 and a one year high of $127.20. 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 stock 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 earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts' consensus estimates 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 business 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 earned $2.64 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 58.63%.

Analyst Upgrades and Downgrades

BMO has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. UBS Group reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cowen reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Scotiabank reiterated a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.00.

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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