Sabal Trust CO raised its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,480 shares of the bank’s stock after buying an additional 14,208 shares during the period. Bank of Montreal accounts for 2.5% of Sabal Trust CO’s investment portfolio, making the stock its 25th largest position. Sabal Trust CO’s holdings in Bank of Montreal were worth $22,473,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA raised its position in Bank of Montreal by 6.0% in the third quarter. Berkshire Asset Management LLC PA now owns 91,468 shares of the bank’s stock valued at $5,998,000 after buying an additional 5,213 shares during the period. Highstreet Asset Management Inc. raised its position in Bank of Montreal by 1.4% in the third quarter. Highstreet Asset Management Inc. now owns 131,268 shares of the bank’s stock valued at $8,597,000 after buying an additional 1,817 shares during the period. Boston Advisors LLC raised its position in Bank of Montreal by 17.1% in the third quarter. Boston Advisors LLC now owns 13,281 shares of the bank’s stock valued at $871,000 after buying an additional 1,935 shares during the period. Commonwealth Equity Services Inc raised its position in Bank of Montreal by 6.9% in the third quarter. Commonwealth Equity Services Inc now owns 51,645 shares of the bank’s stock valued at $3,386,000 after buying an additional 3,352 shares during the period. Finally, K.J. Harrison & Partners Inc raised its position in Bank of Montreal by 248.0% in the third quarter. K.J. Harrison & Partners Inc now owns 21,049 shares of the bank’s stock valued at $1,380,000 after buying an additional 15,000 shares during the period. Institutional investors and hedge funds own 47.82% of the company’s stock.
Bank of Montreal (NYSE:BMO) traded up 1.07% during midday trading on Thursday, hitting $73.62. 275,493 shares of the stock traded hands. The stock has a 50-day moving average of $75.08 and a 200 day moving average of $71.34. Bank of Montreal has a 52-week low of $60.93 and a 52-week high of $78.00. The firm has a market cap of $47.78 billion, a PE ratio of 13.07 and a beta of 1.06.
Bank of Montreal (NYSE:BMO) last released its earnings results on Tuesday, February 28th. The bank reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.27. Bank of Montreal had a net margin of 17.99% and a return on equity of 13.38%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Bank of Montreal will post $6.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 1st will be paid a dividend of $0.6685 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, April 27th. Bank of Montreal’s dividend payout ratio is presently 50.19%.
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Several equities analysts have commented on BMO shares. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, January 10th. BMO Capital Markets restated an “in-line” rating on shares of Bank of Montreal in a report on Friday, January 20th. Finally, Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Bank of Montreal currently has a consensus rating of “Hold” and an average price target of $86.89.
Bank of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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