Hsbc Holdings PLC Reduces Stock Position in Bank Of Montreal $BMO

Key Points

• Hsbc Holdings PLC has reduced its stake in Bank Of Montreal by 28.4%, owning approximately 0.05% of the bank's stock after selling 150,831 shares.
• Analysts have mixed ratings for Bank Of Montreal, with Barclays downgrading it to an "equal weight" while others maintained a "Hold" rating, resulting in a consensus price target of $129.50.
• The Bank Of Montreal has announced a quarterly dividend of $1.1801, reflecting an increase from the previous $1.11 per share, and is set to yield a 4.1% annual yield.

Hsbc Holdings PLC lessened its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,139 shares of the bank's stock after selling 150,831 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Bank Of Montreal worth $36,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC increased its position 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 worth $26,000 after purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Bank Of Montreal during the 1st quarter worth about $34,000. Dunhill Financial LLC purchased a new stake in Bank Of Montreal in the 4th quarter valued at about $39,000. CX Institutional purchased a new stake in Bank Of Montreal in the 1st quarter valued at about $42,000. Finally, HM Payson & Co. purchased a new stake in Bank Of Montreal in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 45.82% of the company's stock.

Analysts Set New Price Targets

BMO has been the subject of several recent analyst reports. Barclays cut Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Scotiabank initiated coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Finally, CIBC restated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Stock Performance

NYSE BMO opened at $114.6750 on Friday. The firm has a market capitalization of $82.15 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.25 and a beta of 1.07. Bank Of Montreal has a 1-year low of $81.13 and a 1-year 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. The business's 50-day simple moving average is $111.82 and its 200-day simple moving average is $103.50.

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

Bank Of Montreal Increases Dividend

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

Bank Of Montreal Company 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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