Stevens Capital Management LP Takes $265,000 Position in Bank Of Montreal (NYSE:BMO)

Key Points

• Stevens Capital Management LP purchased a new stake in Bank Of Montreal, acquiring 2,774 shares valued at approximately $265,000.
• The bank's recent earnings report showed an earnings per share of $1.84, meeting consensus estimates, but revenue fell short at $6.32 billion against expectations of $8.79 billion.
• Bank Of Montreal announced an increase in its quarterly dividend to $1.1801 per share, marking a boost from its previous dividend of $1.11.

Stevens Capital Management LP acquired a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,774 shares of the bank's stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans lifted its holdings in shares of Bank Of Montreal by 10.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,045 shares of the bank's stock worth $380,000 after acquiring an additional 378 shares during the last quarter. Brooklyn FI LLC bought a new position in Bank Of Montreal during the 4th quarter worth approximately $214,000. American Century Companies Inc. increased its stake in shares of Bank Of Montreal by 8.0% in the 4th quarter. American Century Companies Inc. now owns 194,218 shares of the bank's stock valued at $18,855,000 after acquiring an additional 14,351 shares in the last quarter. LPL Financial LLC increased its stake in shares of Bank Of Montreal by 276.7% in the 4th quarter. LPL Financial LLC now owns 324,268 shares of the bank's stock valued at $31,470,000 after acquiring an additional 238,193 shares in the last quarter. Finally, TIAA Trust National Association acquired a new stake in Bank Of Montreal in the 4th quarter valued at $780,000. Institutional investors own 45.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMO. Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Cibc World Mkts cut shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. CIBC reaffirmed 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 note on Thursday, May 15th. They issued a "sector perform" rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $129.50.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock traded down $0.37 during trading on Wednesday, hitting $111.73. 133,856 shares of the company's stock traded hands, compared to its average volume of 677,109. 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 1 year low of $76.98 and a 1 year high of $115.66. The stock has a market capitalization of $80.26 billion, a P/E ratio of 14.48, a PEG ratio of 1.25 and a beta of 1.07. The business has a 50-day simple moving average of $109.63 and a 200-day simple moving average of $101.86.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the previous year, the company posted $2.59 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a yield of 4.22%. Bank Of Montreal's dividend payout ratio (DPR) is 57.33%.

Bank Of Montreal 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.