Mn Services Vermogensbeheer B.V. Increases Position in Bank Of Montreal $BMO

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Bank of Montreal by 3.1% during Q2, owning 139,100 shares worth approximately $15.38 million.
• Bank of Montreal recently declared a quarterly dividend of $1.63, up from $1.18, with a dividend yield of 5.0% and a payout ratio of 58.63%.
• Analysts have mixed views on BMO, with ratings ranging from "sell" to "strong-buy", while Royal Bank of Canada raised its price target to $168.00.

Mn Services Vermogensbeheer B.V. raised its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,100 shares of the bank's stock after buying an additional 4,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Bank Of Montreal were worth $15,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC increased its stake in Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the first quarter valued at $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal in the first quarter valued at $39,000. CX Institutional purchased a new position in shares of Bank Of Montreal in the first quarter valued at $42,000. Finally, HM Payson & Co. purchased a new position in shares of Bank Of Montreal in the first quarter valued at $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BMO. Wall Street Zen downgraded shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Cibc World Mkts raised shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Cowen reissued a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Royal Bank Of Canada raised their price target on Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Finally, UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $168.00.

Bank Of Montreal Stock Down 0.2%

BMO stock opened at $129.42 on Friday. The stock has a market capitalization of $92.52 billion, a P/E ratio of 15.84, a PEG ratio of 1.33 and a beta of 1.04. 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 $131.26. The company has a 50 day moving average price of $117.40 and a two-hundred day moving average price of $106.55.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 earnings per share. As a group, sell-side analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $1.63 dividend. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.0%. Bank Of Montreal's dividend payout ratio (DPR) is presently 58.63%.

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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