Deutsche Bank AG Purchases New Shares in Bank Of Montreal $BMO

Deutsche Bank AG purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,334,415 shares of the bank’s stock, valued at approximately $235,791,000.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. Norges Bank bought a new stake in Bank Of Montreal during the 4th quarter worth about $1,059,320,000. Morgan Stanley raised its stake in shares of Bank Of Montreal by 74.4% in the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after acquiring an additional 1,628,318 shares during the last quarter. UBS Group AG lifted its position in shares of Bank Of Montreal by 155.3% during the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after purchasing an additional 1,294,169 shares in the last quarter. FIL Ltd lifted its position in shares of Bank Of Montreal by 15.2% during the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after purchasing an additional 1,245,500 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Bank Of Montreal during the fourth quarter valued at approximately $129,909,000. Institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of research reports. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce cut Bank Of Montreal from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Down 1.4%

Shares of Bank Of Montreal stock opened at $182.71 on Wednesday. The business has a fifty day simple moving average of $177.19 and a 200 day simple moving average of $157.67. The stock has a market cap of $127.38 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12 month low of $112.21 and a 12 month high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts predict that Bank Of Montreal will post 10.54 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.7%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 51.06%.

About Bank Of Montreal

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.