Deutsche Bank AG Increases Stock Position in Bank of Montreal (NYSE:BMO)

Deutsche Bank AG raised its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,016,659 shares of the bank’s stock after acquiring an additional 76,720 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of Bank of Montreal worth $98,667,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC lifted its holdings in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after buying an additional 246 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Bank of Montreal in the 4th quarter worth approximately $39,000. Dunhill Financial LLC purchased a new position in shares of Bank of Montreal during the fourth quarter valued at approximately $39,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.4%

Shares of NYSE BMO opened at $99.56 on Monday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $106.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50-day moving average of $95.26 and a 200 day moving average of $96.70. The stock has a market cap of $72.09 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business earned $2.56 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts expect that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be paid a $1.1094 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.46%. Bank of Montreal’s dividend payout ratio is currently 57.35%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMO. CIBC cut shares of Bank of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Friday, April 4th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada boosted their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and an average target price of $128.40.

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.