Assenagon Asset Management S.A. Cuts Stake in Bank of Montreal (NYSE:BMO)

Assenagon Asset Management S.A. lowered its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 52.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,227 shares of the bank's stock after selling 22,558 shares during the period. Assenagon Asset Management S.A.'s holdings in Bank of Montreal were worth $2,033,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. acquired a new position in shares of Bank of Montreal in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Montreal by 192.1% in the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank's stock valued at $28,000 after purchasing an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Bank of Montreal in the third quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Bank of Montreal in the third quarter worth approximately $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, December 20th. Barclays assumed coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They issued an "overweight" rating for the company. Bank of America upgraded shares of Bank of Montreal from a "neutral" rating to a "buy" rating in a research note on Monday, December 18th. Jefferies Financial Group assumed coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a "buy" rating for the company. Finally, StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.00.

Bank of Montreal Stock Up 0.6 %

Shares of NYSE:BMO traded up $0.53 during trading on Friday, hitting $97.15. 369,208 shares of the company were exchanged, compared to its average volume of 677,917. The stock has a market capitalization of $70.84 billion, a P/E ratio of 18.43, a PEG ratio of 1.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm's 50 day moving average price is $94.14 and its 200-day moving average price is $89.10.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.34). The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. On average, research analysts predict that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a dividend of $1.1172 per share. This represents a $4.47 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, April 26th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's payout ratio is currently 62.02%.

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.