Sagespring Wealth Partners LLC Purchases Shares of 1,964 Bank Of Montreal $BMO

Sagespring Wealth Partners LLC purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the second quarter, Holdings Channel reports. The institutional investor purchased 1,964 shares of the bank’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Bank Of Montreal by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank’s stock valued at $2,960,102,000 after acquiring an additional 503,027 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Bank Of Montreal by 213.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock valued at $406,825,000 after acquiring an additional 2,899,061 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Bank Of Montreal by 8.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank’s stock valued at $376,165,000 after acquiring an additional 303,496 shares during the last quarter. Fiera Capital Corp lifted its holdings in Bank Of Montreal by 4.4% in the 1st quarter. Fiera Capital Corp now owns 3,864,901 shares of the bank’s stock valued at $369,445,000 after acquiring an additional 163,087 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Bank Of Montreal by 66.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock valued at $351,154,000 after acquiring an additional 1,469,084 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMO shares. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada downgraded Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Price Performance

Shares of BMO opened at $124.96 on Friday. The company has a market capitalization of $89.33 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.27 and a beta of 1.03. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day moving average is $123.84 and its 200-day moving average is $111.16.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. Equities research analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a $1.63 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio is currently 58.63%.

Bank Of Montreal Company 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.