O Shaughnessy Asset Management LLC Has $14.32 Million Holdings in Bank of Montreal (NYSE:BMO)

O Shaughnessy Asset Management LLC raised its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,583 shares of the bank’s stock after buying an additional 2,919 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of Montreal were worth $14,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. acquired a new position in Bank of Montreal in the first quarter valued at about $261,000. Vanguard Group Inc. lifted its position in shares of Bank of Montreal by 1.9% during the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock worth $2,795,402,000 after purchasing an additional 544,767 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Bank of Montreal during the first quarter worth approximately $3,997,000. Dorsey & Whitney Trust CO LLC lifted its position in shares of Bank of Montreal by 7.5% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,167 shares of the bank’s stock worth $602,000 after purchasing an additional 428 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its position in shares of Bank of Montreal by 8.5% during the first quarter. Texas Yale Capital Corp. now owns 12,338 shares of the bank’s stock worth $1,205,000 after purchasing an additional 962 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Price Performance

BMO remained flat at $87.48 during mid-day trading on Tuesday. 849,791 shares of the company’s stock traded hands, compared to its average volume of 790,248. The business’s fifty day simple moving average is $87.51 and its two-hundred day simple moving average is $91.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $63.81 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.12. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.10). The firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.96 billion. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. As a group, research analysts expect that Bank of Montreal will post 7.91 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be issued a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.14%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 74.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BMO shares. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $137.00 to $124.00 in a research note on Monday, June 3rd. Finally, UBS Group assumed coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

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.