Gulf International Bank UK Ltd Grows Holdings in Bank Of Montreal (NYSE:BMO)

Key Points

• Gulf International Bank UK Ltd increased its holdings in Bank Of Montreal by 2,695.3% in the first quarter, bringing its total shares to 41,902 valued at approximately $4 million.
• Bank Of Montreal recently declared a quarterly dividend of $1.1801 per share, raising its annualized dividend to approximately $4.72 with a yield of 4.1%.
• The bank reported $1.84 earnings per share for the latest quarter, in line with expectations, while its revenue showed an 8.8% year-over-year increase.

Gulf International Bank UK Ltd raised its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2,695.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,902 shares of the bank's stock after buying an additional 40,403 shares during the quarter. Gulf International Bank UK Ltd's holdings in Bank Of Montreal were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its holdings in Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after buying an additional 190 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $34,000. Dunhill Financial LLC bought a new position in shares of Bank Of Montreal during the 4th quarter valued at approximately $39,000. CX Institutional bought a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $42,000. Finally, HM Payson & Co. bought a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Down 0.6%

NYSE:BMO traded down $0.74 during midday trading on Friday, hitting $113.43. 422,441 shares of the company traded hands, compared to its average volume of 815,436. The firm's fifty day moving average is $111.27 and its 200-day moving average is $103.03. Bank Of Montreal has a 12-month low of $81.13 and a 12-month high of $115.66. The firm has a market capitalization of $81.26 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

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

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This represents a $4.72 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's payout ratio is currently 62.13%.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of research reports. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Scotiabank initiated coverage on Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday. Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.