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) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,080 shares of the bank’s stock, valued at approximately $1,071,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal in the third quarter worth $45,000. GHP Investment Advisors Inc. increased its stake in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Bank of Montreal by 47.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock worth $66,000 after purchasing an additional 219 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $100.14 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50-day moving average of $97.11 and a 200-day moving average of $91.04. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The company has a market cap of $73.09 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.41 and a beta of 1.09.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders 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 represents a $4.53 annualized dividend and a dividend yield of 4.53%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio (DPR) is currently 65.62%.

Analyst Ratings Changes

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

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.