Generali Asset Management SPA SGR Has $10.65 Million Stake in Bank Of Montreal $BMO

Key Points

• Generali Asset Management SPA SGR increased its stake in Bank Of Montreal to 96,224 shares, valued at approximately $10.65 million, boosting its position by 3.5% in the second quarter.
• Goldman Sachs Group Inc. significantly increased its holdings in Bank Of Montreal by 213.1%, while Canada Pension Plan Investment Board also raised its stake by 66.5% during the first quarter.
• The Bank Of Montreal declared a new quarterly dividend of $1.63, up from its previous dividend of $1.18, reflecting a positive change with a dividend yield of 5.1%.

Generali Asset Management SPA SGR boosted its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,224 shares of the bank's stock after purchasing an additional 3,262 shares during the period. Generali Asset Management SPA SGR's holdings in Bank Of Montreal were worth $10,645,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BMO. Goldman Sachs Group Inc. grew its holdings in shares of Bank Of Montreal by 213.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after buying an additional 2,899,061 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in 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 acquiring an additional 1,469,084 shares during the period. Nuveen LLC purchased a new position in Bank Of Montreal during the 1st quarter valued at about $52,070,000. Vanguard Group Inc. grew its stake in Bank Of Montreal by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock valued at $2,960,102,000 after acquiring an additional 503,027 shares in the last quarter. Finally, Value Partners Investments Inc. increased its holdings in shares of Bank Of Montreal by 803.3% in the 1st quarter. Value Partners Investments Inc. now owns 508,135 shares of the bank's stock valued at $48,573,000 after purchasing an additional 451,881 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMO. Wall Street Zen cut shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. National Bankshares reissued an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Royal Bank Of Canada downgraded shares of Bank Of Montreal from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $168.00 to $163.00 in a research note on Friday, October 3rd. Cowen reiterated a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bank Of Montreal in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $163.00.

Bank Of Montreal Price Performance

NYSE BMO opened at $127.71 on Wednesday. The firm has a market cap of $91.29 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03. The stock's 50-day moving average is $123.04 and its two-hundred day moving average is $110.55. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data 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 return on equity of 10.57% and a net margin of 11.00%.The business 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 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current fiscal 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 given a $1.63 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's payout ratio is 58.63%.

Bank Of Montreal 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.

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