Bank of New York Mellon Corp Lowers Holdings in Bank Of Montreal $BMO

Bank of New York Mellon Corp decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 710,262 shares of the bank’s stock after selling 28,711 shares during the period. Bank of New York Mellon Corp’s holdings in Bank Of Montreal were worth $96,127,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. increased its position in shares of Bank Of Montreal by 6,300.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock valued at $62,233,000 after purchasing an additional 472,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Bank Of Montreal by 16.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock worth $21,484,000 after buying an additional 23,113 shares during the last quarter. Vanguard Group Inc. grew its position in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after buying an additional 673,248 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Bank Of Montreal by 2,127.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock valued at $45,387,000 after buying an additional 333,994 shares during the period. Finally, Generali Asset Management SPA SGR increased its holdings in Bank Of Montreal by 15.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 86,672 shares of the bank’s stock valued at $11,249,000 after buying an additional 11,320 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMO shares. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Performance

BMO opened at $178.06 on Tuesday. The company has a 50 day simple moving average of $168.44 and a two-hundred day simple moving average of $150.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $124.71 billion, a P/E ratio of 18.90, a PEG ratio of 1.02 and a beta of 0.93. Bank Of Montreal has a 1-year low of $109.64 and a 1-year high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period last year, the firm earned $2.62 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

Bank Of Montreal Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.