5 Bank Dividend Stocks to Diversify Your Portfolio

2. Bank of Montreal (NYSE:BMO)

Number of Hedge Fund Holders: 12

Dividend Yield: 3.5%

Bank of Montreal (NYSE:BMO) is yet another Canadian bank stock on our list. The company has raised its quarterly dividend for the past six years and has a payout ratio of 33%.

Stifel’s Mike Rizvanovic holds a Buy rating on Bank of Montreal (NYSE:BMO) shares as of this February.

The EPS for Bank of Montreal (NYSE:BMO) in the fiscal fourth quarter of 2021 was $2.59, beating estimates by $0.08. Its revenue was $5.12 billion. The company’s earnings are expected to grow by 3% in 2022, and it is also set to benefit from its acquisition of the Bank of the West, based in the US, according to analyst Rizvanovic.

The number of hedge funds holding stakes in Bank of Montreal (NYSE:BMO) in the third quarter was 12, with a total stake value of $142 million.