Hsbc Holdings PLC acquired a new position in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 5,051 shares of the bank’s stock, valued at approximately $678,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal during the second quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Bank Of Montreal during the 4th quarter worth $34,000. Finally, Swiss RE Ltd. acquired a new stake in Bank Of Montreal during the 4th quarter worth $38,000. 45.82% of the stock is owned by institutional investors.
Bank Of Montreal Price Performance
Shares of BMO stock opened at $178.76 on Friday. Bank Of Montreal has a 12-month low of $109.64 and a 12-month high of $184.21. The firm has a market capitalization of $125.20 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $172.27 and a 200-day moving average of $153.45.
Bank Of Montreal Increases Dividend
The firm also recently declared 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 represents a $6.84 annualized dividend and a dividend yield of 3.8%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is currently 51.06%.
Analyst Ratings Changes
Several analysts have commented on the stock. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $163.00.
Check Out Our Latest Report on BMO
Bank Of Montreal Company 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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