Vident Advisory LLC Makes New Investment in Bank Of Montreal $BMO

Key Points

• Vident Advisory LLC invested approximately $367,000 in shares of Bank Of Montreal during the first quarter, acquiring 3,846 shares.
• Bank Of Montreal reported earnings of $2.33 per share for the latest quarter, surpassing estimates and showing a 9.7% increase in revenue year-over-year.
• The bank declared an increased quarterly dividend of $1.63 per share, representing an annualized yield of 5.1%.

Vident Advisory LLC purchased a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,846 shares of the bank's stock, valued at approximately $367,000.

Other large investors have also recently modified their holdings of the company. Brooklyn FI LLC bought a new position in shares of Bank Of Montreal in the 4th quarter worth about $214,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Bank Of Montreal in the 4th quarter worth approximately $611,000. Captrust Financial Advisors lifted its stake in Bank Of Montreal by 177.4% in the fourth quarter. Captrust Financial Advisors now owns 8,325 shares of the bank's stock valued at $808,000 after purchasing an additional 5,324 shares during the last quarter. Cetera Investment Advisers lifted 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 valued at $5,410,000 after purchasing an additional 36,195 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Bank Of Montreal by 8.2% during the fourth quarter. Deutsche Bank AG now owns 1,016,659 shares of the bank's stock worth $98,667,000 after acquiring an additional 76,720 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BMO shares. Barclays cut Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Scotiabank reissued a "sector perform" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Cowen reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. UBS Group reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada upped their price target on shares of Bank Of Montreal from $161.00 to $168.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $168.00.

Bank Of Montreal Stock Down 0.3%

Shares of BMO stock traded down $0.41 during trading on Friday, reaching $126.36. The company's stock had a trading volume of 320,137 shares, compared to its average volume of 663,061. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $90.52 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 1.04. The stock's 50-day moving average price is $116.10 and its 200 day moving average price is $105.84. Bank Of Montreal has a 1-year low of $85.20 and a 1-year high of $127.37.

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

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, October 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. Bank Of Montreal's dividend payout ratio is 57.53%.

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.