International Assets Investment Management LLC Takes $612,000 Position in Bank Of Montreal $BMO

Key Points

• International Assets Investment Management LLC acquired a stake in Bank of Montreal valued at approximately $612,000, owning around 0.08% of the bank by the end of the last reporting period.
• Analysts have given Bank of Montreal an average rating of "Moderate Buy" with a price target of $163.00, although opinions vary with one report downgraded to "sell."
• Bank of Montreal announced an increase in its quarterly dividend to $1.63 per share, representing a 5.2% yield, which shows a significant increase from the previous dividend of $1.18.

International Assets Investment Management LLC acquired a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 585,236 shares of the bank's stock, valued at approximately $612,000. International Assets Investment Management LLC owned approximately 0.08% of Bank Of Montreal at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BMO. Oppenheimer & Co. Inc. increased its position in shares of Bank Of Montreal by 2.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after buying an additional 120 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in shares of Bank Of Montreal in the first quarter valued at approximately $606,000. Bessemer Group Inc. increased its position in shares of Bank Of Montreal by 1,240.6% in the first quarter. Bessemer Group Inc. now owns 323,226 shares of the bank's stock valued at $30,896,000 after buying an additional 299,115 shares in the last quarter. Value Partners Investments Inc. increased its position in shares of Bank Of Montreal by 803.3% in the first quarter. Value Partners Investments Inc. now owns 508,135 shares of the bank's stock valued at $48,573,000 after buying an additional 451,881 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Bank Of Montreal by 5.4% in the first quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock valued at $363,000 after buying an additional 196 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMO has been the subject of a number of recent analyst reports. Cowen restated a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank Of Montreal has an average rating of "Moderate Buy" and an average price target of $163.00.

Bank Of Montreal Stock Down 0.3%

Shares of BMO opened at $125.37 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a one year low of $85.40 and a one year high of $131.36. The stock has a market capitalization of $89.62 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.28 and a beta of 1.03. The stock has a 50 day moving average price of $124.34 and a 200 day moving average price of $111.62.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.64 earnings per share. Equities research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders 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 yield of 5.2%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's dividend payout ratio is presently 58.63%.

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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