Maryland State Retirement & Pension System lifted its stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,062 shares of the bank’s stock after purchasing an additional 4,511 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank Of Montreal were worth $10,846,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in BMO. AQR Capital Management LLC lifted its position in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after acquiring an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bank Of Montreal in the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC grew its holdings in shares of Bank Of Montreal by 1.4% in the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after acquiring an additional 167 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of Bank Of Montreal by 166.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after acquiring an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.
Bank Of Montreal Price Performance
Shares of NYSE:BMO opened at $180.93 on Wednesday. The business’s fifty day moving average price is $166.18 and its two-hundred day moving average price is $149.42. The stock has a market cap of $126.72 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a one year low of $109.64 and a one year high of $181.91.
Bank Of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. Bank Of Montreal’s payout ratio is currently 50.96%.
Analysts Set New Price Targets
BMO has been the topic of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, July 8th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal has an average rating of “Hold” and an average price target of $163.00.
View Our Latest Analysis on Bank Of Montreal
Bank Of Montreal Profile
Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.
BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.
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