ST Germain D J Co. Inc. Has $5.39 Million Stake in Bank Of Montreal $BMO

Key Points

• ST Germain D J Co. Inc. reduced its holdings in Bank of Montreal by 29.2%, owning 48,745 shares worth approximately $5.39 million after selling 20,075 shares in the second quarter.
• The Bank of Montreal reported earnings of $2.33 per share for the last quarter, beating estimates of $2.12, with revenues increasing 9.7% year-over-year.
• The bank announced a quarterly dividend of $1.63, a significant increase from the previous dividend of $1.18, reflecting a dividend yield of 5.0%.

ST Germain D J Co. Inc. decreased its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 29.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,745 shares of the bank's stock after selling 20,075 shares during the period. ST Germain D J Co. Inc.'s holdings in Bank Of Montreal were worth $5,393,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Bank Of Montreal by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock worth $2,960,102,000 after purchasing an additional 503,027 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Bank Of Montreal by 213.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after purchasing an additional 2,899,061 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Bank Of Montreal by 8.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank's stock worth $376,165,000 after purchasing an additional 303,496 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Bank Of Montreal by 4.4% in the first quarter. Fiera Capital Corp now owns 3,864,901 shares of the bank's stock worth $369,445,000 after purchasing an additional 163,087 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after buying an additional 1,469,084 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMO shares. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Wall Street Zen lowered shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Cowen reissued a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Scotiabank reiterated a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Bank Of Montreal has a consensus rating of "Moderate Buy" and a consensus price target of $168.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $129.39 on Friday. The firm's 50 day moving average is $119.00 and its 200 day moving average is $107.62. The stock has a market capitalization of $92.50 billion, a P/E ratio of 15.84, a PEG ratio of 1.31 and a beta of 1.04. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $131.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.21. The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $2.64 earnings per share. On average, sell-side analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 5.0%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 58.63%.

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.

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