MQS Management LLC Makes New Investment in Bank Of Montreal (NYSE:BMO)

MQS Management LLC bought a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 5,700 shares of the bank's stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TruNorth Capital Management LLC grew its stake in Bank Of Montreal by 405.0% during the 1st quarter. TruNorth Capital Management LLC now owns 505 shares of the bank's stock worth $48,000 after buying an additional 405 shares during the last quarter. Genus Capital Management Inc. grew its stake in Bank Of Montreal by 369.8% during the 1st quarter. Genus Capital Management Inc. now owns 24,165 shares of the bank's stock worth $2,307,000 after buying an additional 33,120 shares during the last quarter. Cerity Partners LLC grew its stake in Bank Of Montreal by 11.7% during the 1st quarter. Cerity Partners LLC now owns 12,197 shares of the bank's stock worth $1,165,000 after buying an additional 1,281 shares during the last quarter. Code Waechter LLC purchased a new stake in Bank Of Montreal during the 1st quarter valued at about $282,000. Finally, Greenleaf Trust purchased a new stake in Bank Of Montreal during the 1st quarter valued at about $209,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Shares of Bank Of Montreal stock traded down $0.04 during mid-day trading on Monday, reaching $113.70. 113,453 shares of the stock traded hands, compared to its average volume of 650,130. The business has a 50-day moving average of $106.49 and a 200 day moving average of $100.48. Bank Of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $114.76. The stock has a market capitalization of $81.89 billion, a PE ratio of 14.75, 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 (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting 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 business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is presently 57.33%.

Analysts Set New Price Targets

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