Korea Investment CORP Sells 18,975 Shares of Bank Of Montreal $BMO

Key Points

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Korea Investment CORP trimmed its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,216 shares of the bank's stock after selling 18,975 shares during the period. Korea Investment CORP owned approximately 0.06% of Bank Of Montreal worth $43,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BMO. Brooklyn FI LLC purchased a new stake in shares of Bank Of Montreal during the 4th quarter worth approximately $214,000. Townsquare Capital LLC purchased a new stake in Bank Of Montreal during the 4th quarter valued at $224,000. Mariner LLC raised its holdings in Bank Of Montreal by 8.0% during the 4th quarter. Mariner LLC now owns 50,178 shares of the bank's stock valued at $4,870,000 after buying an additional 3,709 shares during the period. GeoWealth Management LLC raised its holdings in Bank Of Montreal by 2,038.9% during the 4th quarter. GeoWealth Management LLC now owns 1,155 shares of the bank's stock valued at $112,000 after buying an additional 1,101 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Bank Of Montreal by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,604,088 shares of the bank's stock valued at $349,778,000 after buying an additional 46,056 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BMO shares. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Scotiabank began coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal Stock Up 1.9%

Shares of Bank Of Montreal stock traded up $2.1350 during trading on Friday, hitting $114.6750. 628,595 shares of the stock traded hands, compared to its average volume of 610,924. The firm has a market cap of $82.15 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.25 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 has a 52-week low of $81.13 and a 52-week high of $115.66. The stock's fifty 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 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 firm 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 business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 earnings per share. On average, equities analysts predict 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 Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal's payout ratio is 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.