Vontobel Holding Ltd. Cuts Stock Holdings in Bank Of Montreal $BMO

Key Points

• Vontobel Holding Ltd. reduced its holdings in Bank Of Montreal by 3.2% in the second quarter, owning 109,919 shares valued at $12.19 million after selling 3,600 shares.
• Several brokerages have recently revised their ratings on Bank Of Montreal, with Wall Street Zen downgrading it to a "sell," while CIBC upgraded its rating to "strong-buy."
• The Bank Of Montreal increased its quarterly dividend to $1.63 from the previous $1.18, reflecting a 5.2% dividend yield based on an annualized amount of $6.52.

Vontobel Holding Ltd. reduced its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,919 shares of the bank's stock after selling 3,600 shares during the period. Vontobel Holding Ltd.'s holdings in Bank Of Montreal were worth $12,189,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BMO. Cary Street Partners Investment Advisory LLC grew its position in shares of 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 valued at $26,000 after purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Bank Of Montreal in the first quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new stake in shares of Bank Of Montreal in the first quarter valued at approximately $39,000. HM Payson & Co. purchased a new stake in shares of Bank Of Montreal in the first quarter valued at approximately $42,000. Finally, CX Institutional purchased a new stake in shares of Bank Of Montreal in the first quarter valued at approximately $42,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMO. Wall Street Zen lowered Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Scotiabank reiterated a "sector perform" 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. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Royal Bank Of Canada lowered Bank Of Montreal from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $168.00 to $163.00 in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.00.

Bank Of Montreal Stock Down 0.6%

NYSE:BMO opened at $126.38 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average is $122.13 and its two-hundred day moving average is $109.84. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $131.36. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS 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 company had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $8.84 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. The firm's revenue was up 9.7% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $1.63 dividend. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a dividend yield of 5.2%. Bank Of Montreal's payout ratio is 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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