OMERS ADMINISTRATION Corp Decreases Stock Position in Bank Of Montreal $BMO

Key Points

• OMERS ADMINISTRATION Corp trimmed its Bank of Montreal stake by 1.9% in Q1, selling 23,500 shares and ending with 1,220,655 shares valued at about $164.8 million.
• Bank of Montreal beat quarterly expectations, posting EPS of $2.68 versus $2.54 expected and revenue of $7.04 billion, with revenue up 10.2% year over year.
• The bank also raised its quarterly dividend to $1.71 per share from $1.67, implying an annualized yield of about 3.8%.

OMERS ADMINISTRATION Corp lessened its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,220,655 shares of the bank's stock after selling 23,500 shares during the period. Bank Of Montreal comprises about 1.1% of OMERS ADMINISTRATION Corp's holdings, making the stock its 22nd largest holding. OMERS ADMINISTRATION Corp owned approximately 0.17% of Bank Of Montreal worth $164,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Code Waechter LLC grew its position in Bank Of Montreal by 1.7% during the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank's stock worth $582,000 after acquiring an additional 75 shares during the last quarter. Larson Financial Group LLC increased its stake in Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock worth $41,000 after purchasing an additional 79 shares during the period. Naples Global Advisors LLC lifted its position in Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank's stock valued at $2,308,000 after purchasing an additional 80 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank's stock valued at $425,000 after purchasing an additional 88 shares during the last quarter. Finally, Turn8 Private Wealth Inc. boosted its stake in shares of Bank Of Montreal by 0.8% during the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank's stock valued at $1,514,000 after purchasing an additional 93 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 0.7%

NYSE BMO opened at $177.84 on Friday. The stock has a market cap of $124.56 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The stock has a 50 day simple moving average of $170.52 and a two-hundred day simple moving average of $152.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

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

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 3.8%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 50.96%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMO. Raymond James Financial restated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Scotiabank reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Weiss Ratings cut shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday. Zacks Research lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Profile

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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