Dickmeyer Boyce Financial Management Inc. Buys New Stake in Bank Of Montreal $BMO

Dickmeyer Boyce Financial Management Inc. purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,830 shares of the bank’s stock, valued at approximately $924,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at about $202,000. State of Wyoming purchased a new position in Bank Of Montreal during the first quarter valued at approximately $1,167,000. Barometer Capital Management Inc. lifted its holdings in Bank Of Montreal by 3.4% in the first quarter. Barometer Capital Management Inc. now owns 44,500 shares of the bank’s stock valued at $6,023,000 after acquiring an additional 1,455 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in Bank Of Montreal in the first quarter valued at approximately $230,000. Finally, Andra AP fonden purchased a new stake in Bank Of Montreal in the 1st quarter worth approximately $3,979,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $176.57 on Friday. The company has a fifty day moving average of $170.01 and a two-hundred day moving average of $151.86. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The stock has a market capitalization of $123.67 billion, a PE ratio of 18.74, a P/E/G ratio of 1.00 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.

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

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMO. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company 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.