Raymond James Financial Inc. Has $47.11 Million Holdings in Bank Of Montreal $BMO

Key Points

• Raymond James Financial Inc. has reduced its holdings in Bank Of Montreal (BMO) by 1.0%, selling 5,019 shares to own 493,213 shares valued at approximately $47.1 million.
• Bank Of Montreal reported quarterly earnings of $1.84 per share, meeting expectations, with revenue of $6.32 billion, while also declaring an increased quarterly dividend of $1.1801 per share.
• Analysts have issued mixed ratings on BMO, with a consensus target price of $129.50, while two analysts rated it as a Buy and seven as Hold.

Raymond James Financial Inc. lowered its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,213 shares of the bank's stock after selling 5,019 shares during the period. Raymond James Financial Inc. owned 0.07% of Bank Of Montreal worth $47,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Bank Of Montreal in the 1st quarter worth about $34,000. Dunhill Financial LLC bought a new position in Bank Of Montreal in the fourth quarter valued at about $39,000. CX Institutional bought a new position in Bank Of Montreal in the first quarter valued at about $42,000. Finally, HM Payson & Co. acquired a new stake in shares of Bank Of Montreal during the first quarter valued at about $42,000. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMO. National Bankshares reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Scotiabank initiated coverage on Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Trading Up 1.9%

NYSE BMO traded up $2.1350 during mid-day trading on Friday, reaching $114.6750. 628,595 shares of the stock were exchanged, compared to its average volume of 620,754. The stock has a market cap of $82.15 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.28 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. The stock has a 50 day simple moving average of $111.82 and a 200-day simple moving average of $103.54.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly 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 net margin of 10.25% and a return on equity of 10.15%. The business had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's payout ratio is 62.13%.

About Bank Of Montreal

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.