Fox Run Management L.L.C. Takes Position in Bank Of Montreal $BMO

Key Points

• Fox Run Management L.L.C. has made a new investment of approximately $263,000 in Bank of Montreal ($BMO), acquiring 2,753 shares in the first quarter.
• Bank of Montreal recently declared a quarterly dividend of $1.1801, which is an increase from its previous dividend and represents a yield of 4.2%.
• The consensus rating for Bank of Montreal's stock is currently a "Hold", with an average price target set at $129.50 according to MarketBeat.

Fox Run Management L.L.C. acquired 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 Securities and Exchange Commission (SEC). The firm acquired 2,753 shares of the bank's stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMO. KLCM Advisors Inc. increased its position in shares of Bank Of Montreal by 8.7% during the first quarter. KLCM Advisors Inc. now owns 4,935 shares of the bank's stock worth $471,000 after purchasing an additional 397 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bank Of Montreal in the 1st quarter valued at about $102,000. Gulf International Bank UK Ltd grew its stake in Bank Of Montreal by 2,695.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 41,902 shares of the bank's stock worth $4,002,000 after buying an additional 40,403 shares during the last quarter. Russell Investments Group Ltd. increased its position in Bank Of Montreal by 9.0% during the first quarter. Russell Investments Group Ltd. now owns 259,852 shares of the bank's stock worth $24,783,000 after buying an additional 21,499 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Bank Of Montreal by 0.4% during the first quarter. Public Sector Pension Investment Board now owns 70,318 shares of the bank's stock worth $6,714,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

Shares of NYSE BMO traded up $2.1350 during midday trading on Friday, hitting $114.6750. 628,595 shares of the company's stock were exchanged, compared to its average volume of 610,924. The firm has a market cap of $82.15 billion, a P/E ratio of 14.87, a PEG ratio of 1.25 and a beta of 1.07. The stock's 50 day moving average price is $111.82 and its 200-day moving average price is $103.50. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%.The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.59 earnings per share. Equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's payout ratio is presently 62.13%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. National Bankshares reissued an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Scotiabank initiated coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Bank Of Montreal has a consensus rating of "Hold" and a consensus 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.