Natixis Advisors LLC Buys 6,350 Shares of Bank Of Montreal $BMO

Key Points

• Natixis Advisors LLC increased its Bank of Montreal stake by 9.6% in the fourth quarter, buying 6,350 shares and bringing its total holdings to 72,166 shares worth about $9.37 million.
• Bank of Montreal reported better-than-expected quarterly results, posting EPS of $2.68 versus estimates of $2.54, with revenue up 10.2% year over year to $7.04 billion.
• The bank also raised its quarterly dividend to $1.71 per share, implying an annualized payout of $6.84 and a 4.2% yield; analysts currently have a consensus rating of Hold with a $163 average target price.

Natixis Advisors LLC grew its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,166 shares of the bank's stock after purchasing an additional 6,350 shares during the period. Natixis Advisors LLC's holdings in Bank Of Montreal were worth $9,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Code Waechter LLC lifted its stake in Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank's stock valued at $582,000 after purchasing an additional 75 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Bank Of Montreal by 33.2% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock worth $41,000 after buying an additional 79 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Bank Of Montreal by 0.5% during the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank's stock worth $2,308,000 after buying an additional 80 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank's stock valued at $276,000 after acquiring an additional 94 shares during the last quarter. Finally, Choreo LLC lifted its stake in shares of Bank Of Montreal by 3.6% in the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank's stock valued at $356,000 after acquiring an additional 95 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings raised Bank Of Montreal from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, May 28th. Zacks Research cut Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Raymond James Financial reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Stock Up 0.1%

Shares of Bank Of Montreal stock opened at $164.49 on Monday. The stock's 50-day moving average is $150.86 and its 200 day moving average is $140.66. Bank Of Montreal has a one year low of $104.08 and a one year high of $165.92. The firm has a market cap of $115.21 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.92 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the previous year, the company posted $2.62 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.2%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.67. Bank Of Montreal's dividend payout ratio (DPR) is presently 50.96%.

About Bank Of Montreal

Bank of Montreal NYSE: BMO, commonly known as BMO Financial Group, is one of Canada's largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO's core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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