J. Safra Sarasin Holding AG Makes New Investment in Bank Of Montreal (NYSE:BMO)

Key Points

• J. Safra Sarasin Holding AG has acquired a new stake in Bank of Montreal, purchasing 5,540 shares valued at approximately $529,000 in the first quarter.
• The Bank of Montreal has announced a quarterly dividend of $1.1801, which is an increase from the previous $1.11, resulting in an annualized yield of 4.2%.
• Despite a recent earnings report hitting consensus expectations, several analysts have downgraded the stock, leading to a consensus rating of "Hold" with an average price target of $129.50.

J. Safra Sarasin Holding AG acquired a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,540 shares of the bank's stock, valued at approximately $529,000.

A number of other hedge funds have also made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in shares of Bank Of Montreal during the first quarter valued at about $34,000. Dunhill Financial LLC purchased a new stake in Bank Of Montreal during the 4th quarter worth about $39,000. CX Institutional purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. HM Payson & Co. purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Bank Of Montreal during the first quarter worth about $44,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank initiated coverage on Bank Of Montreal in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. Wall Street Zen downgraded Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Finally, CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Stock Up 0.6%

NYSE BMO traded up $0.62 on Wednesday, hitting $112.60. 396,046 shares of the stock traded hands, compared to its average volume of 789,761. The company has a market capitalization of $80.88 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07. The stock has a 50-day moving average of $110.37 and a 200 day moving average of $102.31. 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 has a twelve month low of $79.82 and a twelve month high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. Bank Of Montreal's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.59 earnings per share. As a group, analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given 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 positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is presently 62.13%.

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.