Allianz Asset Management GmbH Sells 11,029 Shares of Bank Of Montreal $BMO

Allianz Asset Management GmbH decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.8% during the second quarter, HoldingsChannel.com reports. The fund owned 37,398 shares of the bank’s stock after selling 11,029 shares during the quarter. Allianz Asset Management GmbH’s holdings in Bank Of Montreal were worth $4,136,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC increased its stake in Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $39,000. HM Payson & Co. purchased a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $42,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Bank Of Montreal in the 1st quarter worth approximately $44,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal 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. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a report on Wednesday, October 8th. Finally, CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Bank Of Montreal has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Price Performance

Shares of BMO stock opened at $125.99 on Friday. The stock has a market capitalization of $90.06 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.28 and a beta of 1.03. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $131.36. The stock has a fifty day simple moving average of $124.80 and a two-hundred day simple moving average of $111.98.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly 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 analyst estimates of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 EPS. On average, analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, October 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio is presently 58.63%.

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.