DekaBank Deutsche Girozentrale Has $13.91 Million Stake in Bank of Montreal (NYSE:BMO)

DekaBank Deutsche Girozentrale trimmed its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,907 shares of the bank’s stock after selling 16,128 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bank of Montreal were worth $13,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMO. Raymond James & Associates boosted its position in Bank of Montreal by 1.7% during the 4th quarter. Raymond James & Associates now owns 84,492 shares of the bank’s stock worth $8,360,000 after acquiring an additional 1,409 shares during the last quarter. Pacer Advisors Inc. grew its position in Bank of Montreal by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock valued at $655,000 after purchasing an additional 126 shares in the last quarter. Global Retirement Partners LLC lifted its position in Bank of Montreal by 177.4% during the 4th quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock worth $50,000 after buying an additional 337 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Bank of Montreal by 6.9% during the 4th quarter. Fifth Third Bancorp now owns 2,599 shares of the bank’s stock worth $257,000 after buying an additional 168 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in shares of Bank of Montreal in the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of NYSE BMO traded down $1.91 during mid-day trading on Friday, reaching $80.73. 1,138,921 shares of the company were exchanged, compared to its average volume of 1,352,153. The stock has a market capitalization of $58.89 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.04 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The company’s 50-day simple moving average is $85.77 and its 200-day simple moving average is $91.09. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12.

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

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be issued a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 5.57%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio is currently 75.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BMO. Keefe, Bruyette & Woods cut Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $137.00 to $124.00 in a research report on Monday, June 3rd. Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. UBS Group assumed coverage on shares of Bank of Montreal in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Finally, Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $127.50.

Bank of Montreal Company 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.