Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 35.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,661,300 shares of the bank’s stock after acquiring an additional 437,284 shares during the period. Bank of Montreal makes up about 1.5% of Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings, making the stock its 9th biggest position. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.26% of Bank of Montreal worth $167,110,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Lincluden Management Ltd. increased its holdings in Bank of Montreal by 5.6% during the 4th quarter. Lincluden Management Ltd. now owns 802,223 shares of the bank’s stock worth $65,775,000 after acquiring an additional 42,680 shares during the period. BB&T Investment Services Inc. increased its holdings in Bank of Montreal by 54.5% during the 4th quarter. BB&T Investment Services Inc. now owns 10,996 shares of the bank’s stock worth $880,000 after acquiring an additional 3,880 shares during the period. BB&T Securities LLC increased its holdings in Bank of Montreal by 4.9% during the 4th quarter. BB&T Securities LLC now owns 78,196 shares of the bank’s stock worth $6,257,000 after acquiring an additional 3,661 shares during the period. Verition Fund Management LLC increased its holdings in Bank of Montreal by 107.2% during the 4th quarter. Verition Fund Management LLC now owns 7,818 shares of the bank’s stock worth $626,000 after acquiring an additional 4,045 shares during the period. Finally, Clark Capital Management Group Inc. increased its holdings in Bank of Montreal by 60.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,472 shares of the bank’s stock worth $358,000 after acquiring an additional 1,688 shares during the period. 43.96% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Canaccord Genuity reissued a “hold” rating and issued a $105.00 price target on shares of Bank of Montreal in a report on Tuesday, December 5th. Macquarie raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 15th. Finally, Scotiabank reissued a “buy” rating and issued a $112.00 price target on shares of Bank of Montreal in a report on Wednesday, November 22nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bank of Montreal currently has a consensus rating of “Hold” and an average target price of $98.60.
Bank of Montreal (NYSE BMO) opened at $75.57 on Tuesday. The company has a market cap of $48,679.52, a price-to-earnings ratio of 13.65, a PEG ratio of 1.60 and a beta of 1.08. Bank of Montreal has a twelve month low of $66.75 and a twelve month high of $84.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.02. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.45 billion. Bank of Montreal had a net margin of 16.69% and a return on equity of 13.85%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. equities research analysts expect that Bank of Montreal will post 6.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 28th. Stockholders of record on Tuesday, May 1st will be issued a $0.755 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, April 30th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.00%. Bank of Montreal’s dividend payout ratio is presently 53.08%.
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Bank of Montreal Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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