Man Group plc bought a new stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) in the second quarter, HoldingsChannel reports. The fund bought 62,678 shares of the bank’s stock, valued at approximately $11,075,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its holdings in shares of Bank Of Montreal by 6,300.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after purchasing an additional 472,000 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Bank Of Montreal in the second quarter worth $920,002,000. Tacita Capital Inc acquired a new position in Bank Of Montreal in the second quarter valued at about $1,518,000. Andra AP fonden bought a new stake in Bank Of Montreal during the first quarter worth about $3,979,000. Finally, Deutsche Bank AG bought a new stake in Bank Of Montreal during the second quarter worth about $235,791,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on BMO. Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce downgraded shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, August 18th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $163.00.
Bank Of Montreal Stock Performance
NYSE:BMO opened at $172.06 on Friday. The stock’s 50-day simple moving average is $177.93 and its 200 day simple moving average is $159.41. The firm has a market capitalization of $119.95 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a twelve month low of $118.66 and a twelve month high of $187.22.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.62 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current fiscal year.
Bank Of Montreal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 54.29%.
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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