Montrusco Bolton Investments Inc. Makes New $23.14 Million Investment in Bank Of Montreal (NYSE:BMO)

Montrusco Bolton Investments Inc. bought a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 242,313 shares of the bank's stock, valued at approximately $23,136,000.

Other institutional investors have also made changes to their positions in the company. Dunhill Financial LLC acquired a new position in shares of Bank Of Montreal during the 4th quarter worth approximately $39,000. HM Payson & Co. bought a new stake in Bank Of Montreal in the 1st quarter valued at $42,000. CX Institutional bought a new stake in Bank Of Montreal in the 1st quarter valued at $42,000. Wayfinding Financial LLC bought a new stake in Bank Of Montreal in the 1st quarter valued at $44,000. Finally, TruNorth Capital Management LLC boosted its stake in Bank Of Montreal by 405.0% in the 1st quarter. TruNorth Capital Management LLC now owns 505 shares of the bank's stock valued at $48,000 after purchasing an additional 405 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

Shares of NYSE:BMO traded down $0.07 during trading on Friday, reaching $114.29. 442,677 shares of the company traded hands, compared to its average volume of 795,211. The company's 50 day moving average is $107.71 and its two-hundred day moving average is $100.89. The firm has a market capitalization of $82.10 billion, a PE ratio of 14.82, a PEG ratio of 1.25 and a beta of 1.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. Bank Of Montreal has a 52 week low of $76.98 and a 52 week high of $114.76.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting analysts' consensus estimates of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The company had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. Bank Of Montreal's revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's payout ratio is 57.33%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Scotiabank started coverage on Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Finally, Cibc World Mkts downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal 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.