Bessemer Group Inc. Grows Holdings in Bank Of Montreal (NYSE:BMO)

Bessemer Group Inc. raised its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1,240.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 323,226 shares of the bank’s stock after buying an additional 299,115 shares during the period. Bessemer Group Inc.’s holdings in Bank Of Montreal were worth $30,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMO. IFP Advisors Inc lifted its stake in shares of Bank Of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC increased its holdings in Bank Of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Bank Of Montreal in the 4th quarter valued at approximately $39,000. Dunhill Financial LLC acquired a new position in shares of Bank Of Montreal in the 4th quarter valued at approximately $39,000. Finally, CX Institutional purchased a new position in shares of Bank Of Montreal during the 1st quarter valued at approximately $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BMO shares. CIBC restated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Cibc World Mkts downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Barclays cut shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. Scotiabank initiated coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a “sector perform” rating for the company. Finally, Royal Bank Of Canada increased their target price on Bank Of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $129.50.

Bank Of Montreal Stock Performance

Shares of NYSE BMO opened at $106.64 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $102.36 and its two-hundred day moving average price is $99.30. Bank Of Montreal has a 52-week low of $76.98 and a 52-week high of $109.10. The stock has a market capitalization of $76.81 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.17 and a beta of 1.08.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.84. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $2.59 EPS. As a group, sell-side analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.43%. Bank Of Montreal’s payout ratio is 57.33%.

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.