Northwest & Ethical Investments L.P. Buys 58,531 Shares of Bank Of Montreal $BMO

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Bank Of Montreal (NYSE:BMO) by 40.6%, owning a total of 202,639 shares valued at approximately $19.36 million.
• The Bank Of Montreal recently declared a quarterly dividend of $1.1801, representing an annualized yield of 4.2% and a positive increase from the previous dividend of $1.11.
• Wall Street analysts currently have an average rating of "Hold" on Bank Of Montreal stock, with a consensus price target of $129.50.

Northwest & Ethical Investments L.P. raised its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 40.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,639 shares of the bank's stock after acquiring an additional 58,531 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Bank Of Montreal were worth $19,362,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC raised its position in shares of Bank Of Montreal by 228.9% in the first 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 during the period. Bayforest Capital Ltd bought a new position in Bank Of Montreal during the first quarter worth about $34,000. Dunhill Financial LLC bought a new position in Bank Of Montreal during the fourth quarter worth about $39,000. CX Institutional bought a new position in Bank Of Montreal in the 1st quarter valued at about $42,000. Finally, HM Payson & Co. bought a new position in Bank Of Montreal in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Scotiabank assumed coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Finally, CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal Trading Down 0.2%

Shares of NYSE:BMO traded down $0.2170 during mid-day trading on Thursday, hitting $112.5130. The company had a trading volume of 422,591 shares, compared to its average volume of 660,812. The firm has a fifty day moving average price of $111.58 and a 200 day moving average price of $103.28. The company has a market capitalization of $80.60 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a one year low of $81.13 and a one year high of $115.66.

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 analysts' consensus estimates of $1.84. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. Bank Of Montreal's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 EPS. As a group, research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a $1.1801 dividend. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. 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 4.2%. Bank Of Montreal's payout ratio is presently 62.13%.

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.