MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $1.07 Million Position in Bank of Montreal (NYSE:BMO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,080 shares of the bank’s stock, valued at approximately $1,071,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMO. Passumpsic Savings Bank grew its holdings in Bank of Montreal by 2.1% during the third quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock worth $464,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. raised its stake in Bank of Montreal by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after acquiring an additional 113 shares during the period. Boltwood Capital Management lifted its holdings in Bank of Montreal by 3.1% during the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after purchasing an additional 125 shares during the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Bank of Montreal by 2.8% in the third quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank’s stock valued at $572,000 after purchasing an additional 172 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Bank of Montreal by 4.5% in the third quarter. Orion Portfolio Solutions LLC now owns 4,771 shares of the bank’s stock valued at $430,000 after purchasing an additional 204 shares during the period. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on BMO shares. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and an average price target of $128.00.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $100.14 on Friday. The stock has a market capitalization of $73.09 billion, a PE ratio of 14.35, a PEG ratio of 1.41 and a beta of 1.09. The business’s 50 day simple moving average is $97.11 and its 200 day simple moving average is $91.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.53%. Bank of Montreal’s dividend payout ratio is 65.62%.

Bank of Montreal 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.