Tacita Capital Inc Raises Holdings in Bank Of Montreal (NYSE:BMO)

Key Points

• Tacita Capital Inc increased its stake in Bank of Montreal by 678.4%, acquiring an additional 5,000 shares in the first quarter, bringing its total holdings to 5,737 shares valued at approximately $548,000.
• Bank of Montreal recently announced a quarterly dividend increase, now set at $1.1801 per share, translating to an annualized dividend of $4.72 with a yield of 4.1%.
• The bank reported a quarterly earnings per share of $1.84, matching analysts' expectations, while revenue for the quarter was $6.32 billion, below the anticipated $8.79 billion.

Tacita Capital Inc lifted its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 678.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,737 shares of the bank's stock after buying an additional 5,000 shares during the period. Tacita Capital Inc's holdings in Bank Of Montreal were worth $548,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC increased its stake in 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 purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new position in Bank Of Montreal in the 1st quarter valued at approximately $34,000. Dunhill Financial LLC purchased a new position in Bank Of Montreal in the 4th quarter valued at approximately $39,000. CX Institutional purchased a new position in Bank Of Montreal in the 1st quarter valued at approximately $42,000. Finally, HM Payson & Co. purchased a new position in Bank Of Montreal in the 1st quarter valued at approximately $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $114.08 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $111.17 and a two-hundred day moving average of $102.92. The company has a market capitalization of $81.72 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.25 and a beta of 1.07. Bank Of Montreal has a fifty-two week low of $81.13 and a fifty-two week high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BMO shares. Wall Street Zen raised Bank Of Montreal from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Scotiabank started coverage on Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank Of Montreal has an average rating of "Hold" and a consensus price target of $129.50.

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.

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