Vanguard Group Inc. Raises Stock Holdings in Bank Of Montreal (NYSE:BMO)

Key Points

• Vanguard Group Inc. increased its stake in Bank Of Montreal by 1.6%, owning approximately 30,997,776 shares valued at $2.96 billion after acquiring an additional 503,027 shares in the 1st quarter.
• Bank Of Montreal recently declared a quarterly dividend of $1.1801, up from the previous $1.11, representing a dividend yield of 4.2%.
• Equities analysts have a consensus rating of "Hold" on Bank Of Montreal shares, with a target price set at $129.50, following various upgrades and downgrades from several financial institutions.

Vanguard Group Inc. raised its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,997,776 shares of the bank's stock after purchasing an additional 503,027 shares during the quarter. Vanguard Group Inc. owned 4.28% of Bank Of Montreal worth $2,960,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in shares of Bank Of Montreal in the 4th quarter worth about $380,000. Baskin Financial Services Inc. increased its position in shares of Bank Of Montreal by 134.2% in the first quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after purchasing an additional 4,256 shares during the last quarter. Code Waechter LLC purchased a new stake in Bank Of Montreal in the first quarter worth approximately $282,000. Cetera Investment Advisers boosted its stake in Bank Of Montreal by 185.1% in the fourth quarter. Cetera Investment Advisers now owns 55,745 shares of the bank's stock worth $5,410,000 after buying an additional 36,195 shares in the last quarter. Finally, JCIC Asset Management Inc. purchased a new stake in Bank Of Montreal in the first quarter worth $606,000. Institutional investors own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

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

Bank Of Montreal Trading Down 0.1%

Shares of NYSE BMO traded down $0.11 during trading hours on Monday, hitting $112.73. 288,186 shares of the company traded hands, compared to its average volume of 668,706. The stock has a market capitalization of $80.98 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The company's 50 day moving average price is $110.72 and its 200 day moving average price is $102.59. Bank Of Montreal has a 12 month low of $80.97 and a 12 month high of $115.66.

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

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.2%. Bank Of Montreal's payout ratio is currently 62.13%.

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.