O Shaughnessy Asset Management LLC Boosts Holdings in Bank of Montreal (NYSE:BMO)

O Shaughnessy Asset Management LLC increased its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,583 shares of the bank’s stock after buying an additional 2,919 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of Montreal were worth $14,318,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Bank of Montreal during the fourth quarter worth about $33,000. Cullen Frost Bankers Inc. boosted its position in Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after purchasing an additional 405 shares during the period. Headlands Technologies LLC bought a new position in Bank of Montreal during the fourth quarter worth about $44,000. EverSource Wealth Advisors LLC boosted its position in Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after purchasing an additional 130 shares during the period. Finally, IAG Wealth Partners LLC boosted its position in Bank of Montreal by 117.5% during the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock worth $49,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. Finally, Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and an average price target of $127.50.

Bank of Montreal Stock Performance

Shares of BMO stock remained flat at $87.48 during trading hours on Tuesday. 849,791 shares of the stock were exchanged, compared to its average volume of 790,248. The stock has a 50 day simple moving average of $87.51 and a two-hundred day simple moving average of $91.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The firm has a market capitalization of $63.81 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.15 and a beta of 1.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). The company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. As a group, equities research analysts anticipate that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be paid a $1.125 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 74.25%.

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.