Bank Of Montreal (NYSE:BMO) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bank Of Montreal to 305,921 shares, valued at approximately $29.21 million, marking a 5.0% increase during the first quarter.
• The Bank Of Montreal has announced a quarterly dividend of $1.1801 per share, which is an increase from the previous dividend of $1.11, reflecting a yield of 4.12%.
• Analysts have issued a consensus rating of "Hold" for Bank Of Montreal, with varying forecasts from sell to buy, and a target price of $129.50 per share.

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 305,921 shares of the bank's stock after acquiring an additional 14,583 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Bank Of Montreal were worth $29,209,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Bank Of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after purchasing an additional 2,044,862 shares during the period. Mackenzie Financial Corp lifted its holdings in Bank Of Montreal by 15.4% during the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after purchasing an additional 1,630,962 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Bank Of Montreal by 1,527.7% in the fourth quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock valued at $112,626,000 after buying an additional 1,089,199 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Bank Of Montreal by 8.6% in the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Bank Of Montreal by 29.4% during the fourth quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank's stock worth $422,450,000 after purchasing an additional 975,777 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMO has been the subject of a number of recent analyst reports. Scotiabank assumed coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen cut shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Friday, July 18th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Cibc World Mkts downgraded shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Barclays downgraded shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Trading Down 0.8%

BMO traded down $0.89 on Wednesday, reaching $111.21. 492,758 shares of the company's stock were exchanged, compared to its average volume of 679,553. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a twelve month low of $76.98 and a twelve month high of $115.66. The company's 50 day moving average is $109.63 and its 200-day moving average is $101.86. The company has a market cap of $79.89 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.25 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the company earned $2.59 earnings per share. Bank Of Montreal's revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders 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 represents a $4.72 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio (DPR) is presently 57.33%.

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.