Public Employees Retirement System of Ohio Lowers Stock Position in Bank Of Montreal $BMO

Public Employees Retirement System of Ohio reduced its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 28.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,594 shares of the bank's stock after selling 21,089 shares during the period. Public Employees Retirement System of Ohio's holdings in Bank Of Montreal were worth $7,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Bank Of Montreal by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank's stock worth $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Bank Of Montreal by 1.5% during the 4th quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank's stock worth $2,519,180,000 after buying an additional 293,575 shares in the last quarter. FIL Ltd boosted its stake in shares of Bank Of Montreal by 15.2% in the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank's stock worth $1,226,622,000 after buying an additional 1,245,500 shares during the last quarter. Norges Bank bought a new position in shares of Bank Of Montreal in the fourth quarter valued at approximately $1,059,320,000. Finally, Geode Capital Management LLC increased its position in shares of Bank Of Montreal by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank's stock valued at $932,242,000 after acquiring an additional 442,812 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMO has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Desjardins reissued a "hold" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Barclays restated an "underweight" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal currently has an average rating of "Hold" and a consensus price target of $163.00.

Bank Of Montreal Trading Up 1.2%

NYSE:BMO opened at $180.65 on Wednesday. Bank Of Montreal has a 12 month low of $109.64 and a 12 month high of $184.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average is $171.55 and its 200 day moving average is $152.82. The stock has a market capitalization of $126.53 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $6.98 billion. During the same period in the prior year, the company earned $2.62 earnings per share. Bank Of Montreal's revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.67. Bank Of Montreal's dividend payout ratio is currently 50.96%.

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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