DSM Capital Partners LLC Sells 74,226 Shares of Bank of Montreal (NYSE:BMO)

DSM Capital Partners LLC trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 90.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,630 shares of the bank’s stock after selling 74,226 shares during the period. DSM Capital Partners LLC’s holdings in Bank of Montreal were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Bank of Montreal by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 2,808,847 shares of the bank’s stock valued at $253,667,000 after buying an additional 11,509 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bank of Montreal by 31.8% in the second quarter. PNC Financial Services Group Inc. now owns 10,719 shares of the bank’s stock valued at $968,000 after buying an additional 2,588 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Bank of Montreal by 2.8% in the second quarter. Northern Trust Corp now owns 305,175 shares of the bank’s stock valued at $27,560,000 after buying an additional 8,168 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Bank of Montreal by 100.4% in the second quarter. Bessemer Group Inc. now owns 2,806 shares of the bank’s stock valued at $253,000 after buying an additional 1,406 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Bank of Montreal by 9.1% in the second quarter. Great West Life Assurance Co. Can now owns 487,463 shares of the bank’s stock valued at $44,328,000 after buying an additional 40,773 shares in the last quarter. 43.89% of the stock is owned by institutional investors.

Bank of Montreal Stock Performance

NYSE BMO traded up $0.39 during trading hours on Tuesday, reaching $81.74. 101,990 shares of the company were exchanged, compared to its average volume of 610,643. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $102.79. The business’s 50 day simple moving average is $81.21 and its 200-day simple moving average is $85.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $58.93 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.24 and a beta of 1.15.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 29th. The bank reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.20). Bank of Montreal had a return on equity of 12.70% and a net margin of 11.19%. The company had revenue of $5.94 billion for the quarter. On average, equities research analysts expect that Bank of Montreal will post 8.67 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Monday, October 30th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Friday, October 27th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.09. Bank of Montreal’s dividend payout ratio (DPR) is 57.35%.

Wall Street Analyst Weigh In

BMO has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Bank of Montreal in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Barclays raised their price target on shares of Bank of Montreal from $123.00 to $131.00 and gave the company an “overweight” rating in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.25.

Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.