UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Holdings in Bank Of Montreal $BMO

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,002,463 shares of the bank’s stock after buying an additional 66,838 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.14% of Bank Of Montreal worth $95,745,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after buying an additional 190 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $39,000. CX Institutional acquired a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $42,000. Finally, HM Payson & Co. acquired a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $126.36 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $90.52 billion, a PE ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 1.04. The firm has a 50 day simple moving average of $116.10 and a 200-day simple moving average of $105.84. Bank Of Montreal has a 1-year low of $85.20 and a 1-year high of $127.37.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. Bank Of Montreal’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.64 EPS. On average, equities analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a yield of 5.2%. Bank Of Montreal’s payout ratio is currently 57.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BMO. Wall Street Zen cut Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Royal Bank Of Canada upped their price target on Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.00.

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.