DekaBank Deutsche Girozentrale Raises Stake in Bank of Montreal (NYSE:BMO)

DekaBank Deutsche Girozentrale boosted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 5.1% during the second quarter, Holdings Channel.com reports. The firm owned 152,263 shares of the bank’s stock after acquiring an additional 7,356 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bank of Montreal were worth $12,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMO. Principal Securities Inc. purchased a new stake in shares of Bank of Montreal in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Bank of Montreal by 39.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after acquiring an additional 130 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Bank of Montreal during the second quarter valued at $40,000. IAG Wealth Partners LLC raised its position in shares of Bank of Montreal by 28.0% in the 1st quarter. IAG Wealth Partners LLC now owns 635 shares of the bank’s stock worth $62,000 after purchasing an additional 139 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in Bank of Montreal in the 2nd quarter worth about $59,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of BMO opened at $85.56 on Monday. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The business has a fifty day moving average of $84.53 and a 200 day moving average of $88.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $62.40 billion, a P/E ratio of 14.21, a PEG ratio of 2.32 and a beta of 1.11.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. Bank of Montreal’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 EPS. As a group, sell-side analysts anticipate that Bank of Montreal will post 8.06 EPS for the current year.

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 5.25%. Bank of Montreal’s payout ratio is presently 76.25%.

Analyst Ratings Changes

A number of research firms have weighed in on BMO. UBS Group began coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Desjardins cut Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Barclays decreased their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods cut Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $137.00 to $124.00 in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of $119.75.

About Bank of Montreal

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.