UMB Bank n.a. Strengthens Position in Bank of Montreal with Higher Stake

BMO Stock

UMB Bank n.a. has increased its ownership in Bank of Montreal (BMO:NYE) by 20.3% in the fourth quarter, according to the company’s recent 13F filing with the SEC. The institutional investor now owns 13,096 shares of the BMO stock, up from 10,884 shares, worth $1,186,000.

Several other institutional investors have also adjusted their holdings of the stock. Single Point Partners LLC bought a new stake in Bank of Montreal valued at $201,000, while Bank of New York Mellon Corp increased its stake in the bank by 5.5% to 843,729 shares, worth $73,944,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Bank of Montreal worth about $16,508,000, CENTRAL TRUST Co increased its stake by 64.2%, and Captrust Financial Advisors raised its stake by 12.5%. Institutional investors and hedge funds now own 42.78% of BMO stock.

 

BMO Stock Price Analysis:

Bank of Montreal’s stock opened at $85.25 on Monday and is currently trading at a 2.1% decrease. The company has a market capitalization of $60.78 billion, a PE ratio of 6.95, and a beta of 1.15. Its 50-day and 200-day simple moving averages are $96.88 and $94.19, respectively. Bank of Montreal has a 12-month low of $81.57 and a 12-month high of $122.77.

BMO Ratings by Stock Target Advisor

BMO Stock Dividend:

In addition, the company recently announced an increase in its quarterly dividend, which will be paid on May 26th to stockholders of record on April 28th. The dividend will be $1.075 per share, up from the previous quarter’s $1.05 per share, and represents a $4.30 annualized dividend and a dividend yield of 5.04%. Bank of Montreal’s dividend payout ratio (DPR) is 34.18%.

 

Analyst Ratings:

Several equities research analysts have recently weighed in on Bank of Montreal’s stock.

Bank Of America (Bofa) downgraded the stock from “buy” to “neutral,” while Credit Suisse Group gave it an “outperform” rating. BMO Capital Markets dropped its price objective. Bank of Montreal currently has an average rating of “Hold” and an average price target of $147.50, according to Stock Target Advisor.

BMO Ratings by Stock Target Advisor

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