Legal & General Group Plc purchased a new stake in shares of Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,212,134 shares of the bank’s stock, valued at approximately $744,214,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Bank Of Montreal by 87.1% during the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after buying an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Bank Of Montreal during the second quarter valued at approximately $1,018,000. Cerity Partners LLC raised its position in Bank Of Montreal by 1.4% in the second 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 raised its position in Bank Of Montreal by 166.3% in the second 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 boosted its stake in shares of Bank Of Montreal by 5,614.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock worth $310,000 after acquiring an additional 2,751 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BMO shares. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Friday. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a research note on Friday. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and a consensus target price of $163.00.
Bank Of Montreal Trading Down 1.3%
Shares of BMO opened at $172.22 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a 1 year low of $113.60 and a 1 year high of $187.22. The company has a 50 day simple moving average of $177.74 and a two-hundred day simple moving average of $158.64. The firm has a market cap of $120.06 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. Bank Of Montreal’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $2.62 earnings per share. On average, equities analysts expect that Bank Of Montreal will post 10.49 earnings per share for the current fiscal year.
Bank Of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given a $1.71 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.
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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