Bank of Montreal (NYSE:BMO) Trading Down 3.6%

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's share price traded down 3.6% during trading on Tuesday . The stock traded as low as $84.11 and last traded at $84.11. 136,889 shares were traded during mid-day trading, a decline of 83% from the average session volume of 823,241 shares. The stock had previously closed at $87.23.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada lowered shares of Bank of Montreal from an "outperform" rating to a "sector perform" rating in a research note on Tuesday. UBS Group began coverage on Bank of Montreal in a report on Tuesday, July 2nd. They issued a "neutral" rating for the company. Desjardins downgraded Bank of Montreal from a "buy" rating to a "hold" rating in a report on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods downgraded Bank of Montreal from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $137.00 to $124.00 in a report on Monday, June 3rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $127.50.

Bank of Montreal Price Performance

The firm has a market capitalization of $60.18 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.16 and a beta of 1.12. The company has a fifty day moving average price of $86.75 and a two-hundred day moving average price of $91.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly 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). Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.96 billion. On average, equities research analysts expect that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 5.45%. Bank of Montreal's dividend payout ratio (DPR) is currently 74.25%.

Institutional Investors Weigh In On Bank of Montreal

Hedge funds have recently modified their holdings of the stock. Principal Securities Inc. acquired a new stake in shares of Bank of Montreal during the fourth quarter worth $33,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank's stock worth $41,000 after purchasing an additional 405 shares during the period. Headlands Technologies LLC acquired a new stake in Bank of Montreal in the fourth quarter valued at $44,000. EverSource Wealth Advisors LLC lifted its holdings in Bank of Montreal by 39.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank's stock valued at $46,000 after acquiring an additional 130 shares during the period. Finally, IAG Wealth Partners LLC lifted its holdings in Bank of Montreal by 117.5% in the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank's stock valued at $49,000 after acquiring an additional 268 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

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.