APG Asset Management N.V. Makes New Investment in Bank of Montreal (NYSE:BMO)

APG Asset Management N.V. purchased a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 397,200 shares of the bank's stock, valued at approximately $37,220,000. APG Asset Management N.V. owned 0.05% of Bank of Montreal as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Bank of Montreal by 6.0% in the 4th quarter. Bank of New York Mellon Corp now owns 708,767 shares of the bank's stock valued at $68,786,000 after buying an additional 40,135 shares during the period. American Century Companies Inc. increased its stake in shares of Bank of Montreal by 8.0% during the fourth quarter. American Century Companies Inc. now owns 194,218 shares of the bank's stock worth $18,855,000 after acquiring an additional 14,351 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bank of Montreal by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,716 shares of the bank's stock worth $185,694,000 after purchasing an additional 64,799 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Bank of Montreal by 58.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,618 shares of the bank's stock valued at $448,000 after purchasing an additional 1,703 shares during the period. Finally, Korea Investment CORP boosted its holdings in Bank of Montreal by 2.6% in the 4th quarter. Korea Investment CORP now owns 478,191 shares of the bank's stock valued at $46,399,000 after purchasing an additional 12,052 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

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Bank of Montreal Trading Up 1.2 %

Shares of NYSE BMO traded up $1.08 during midday trading on Monday, reaching $92.22. 123,007 shares of the stock were exchanged, compared to its average volume of 653,690. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $67.04 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.43 and a beta of 0.95. The stock has a 50 day moving average price of $97.42 and a 200-day moving average price of $96.22. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, beating the consensus estimate of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm posted $2.56 EPS. Bank of Montreal's revenue was up 20.8% on a year-over-year basis. Equities research analysts expect that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be paid a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.81%. Bank of Montreal's dividend payout ratio is presently 57.35%.

Wall Street Analysts Forecast Growth

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

Bank of Montreal Company Profile

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.