Vident Advisory LLC Buys Shares of 3,846 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 acquired a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,846 shares of the bank's stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Star Asset Management Inc. raised its holdings in shares of Bank Of Montreal by 1.2% in the fourth quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock valued at $817,000 after buying an additional 100 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Bank Of Montreal by 2.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock worth $451,000 after purchasing an additional 120 shares during the period. Wealth Alliance LLC increased its position in Bank Of Montreal by 1.8% in the first quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock worth $778,000 after purchasing an additional 142 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after purchasing an additional 190 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Bank Of Montreal by 5.4% in the first quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank's stock worth $363,000 after purchasing an additional 196 shares during the period. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Stock Down 0.2%

Shares of Bank Of Montreal stock traded down $0.19 on Friday, reaching $126.58. 105,451 shares of the company were exchanged, compared to its average volume of 669,462. Bank Of Montreal has a one year low of $85.20 and a one year high of $127.37. The company has a market capitalization of $90.67 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.29 and a beta of 1.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $115.85 and a 200 day moving average of $105.67.

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

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is an increase 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 dividend yield of 5.2%. Bank Of Montreal's payout ratio is currently 58.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Wall Street Zen lowered Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, September 5th. Royal Bank Of Canada boosted their target price on Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Finally, Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $168.00.

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.