First Trust Advisors LP Trims Stock Position in Bank Of Montreal $BMO

First Trust Advisors LP lessened its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,416 shares of the bank’s stock after selling 15,767 shares during the period. First Trust Advisors LP’s holdings in Bank Of Montreal were worth $36,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal during the 2nd quarter worth $28,000. Flagship Harbor Advisors LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter valued at $34,000. Finally, Swiss RE Ltd. bought a new stake in shares of Bank Of Montreal during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.4%

BMO opened at $178.47 on Tuesday. The stock has a market cap of $125.00 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $171.01 and its 200 day moving average is $152.48. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.Bank Of Montreal’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.62 EPS. On average, sell-side analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

BMO has been the topic of a number of recent research reports. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $163.00.

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.