UMB Bank n.a. Cuts Position in Bank Of Montreal $BMO

Key Points

• UMB Bank n.a. cut its holdings in Bank Of Montreal by 65.7% during the second quarter, owning only 4,594 shares after selling 8,809 shares.
• The Bank Of Montreal declared a quarterly dividend of $1.63, up from its previous dividend of $1.18, with a yield of 5.0%.
• Despite UMB Bank's reduction, several other institutional investors have increased their positions in Bank Of Montreal, highlighting fluctuating investor interests in the company's stock.

UMB Bank n.a. decreased its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 65.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,594 shares of the bank's stock after selling 8,809 shares during the period. UMB Bank n.a.'s holdings in Bank Of Montreal were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMO. State of Wyoming raised its holdings in shares of Bank Of Montreal by 237.4% during the 1st quarter. State of Wyoming now owns 14,254 shares of the bank's stock valued at $1,361,000 after buying an additional 10,029 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 acquiring an additional 1,469,084 shares in the last quarter. Baskin Financial Services Inc. raised its stake in shares of Bank Of Montreal by 134.2% during the first quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after acquiring an additional 4,256 shares in the last quarter. Code Waechter LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $282,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bank Of Montreal in the 1st quarter valued at $1,886,000. Institutional investors own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. UBS Group reissued a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cowen restated a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, September 5th. Finally, Royal Bank Of Canada increased their price objective on Bank Of Montreal from $161.00 to $168.00 and gave the company an "outperform" rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank Of Montreal has an average rating of "Moderate Buy" and a consensus target price of $168.00.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $129.64 on Tuesday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.26. The firm's 50-day moving average is $118.05 and its 200 day moving average is $107.09. The stock has a market cap of $92.67 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. Bank Of Montreal's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $2.64 EPS. Sell-side 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 Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a $1.63 dividend. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.0%. Bank Of Montreal's payout ratio is currently 58.63%.

Bank Of Montreal Company 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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