Dimensional Fund Advisors LP grew its stake in shares of Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 2.8% in the 1st quarter, HoldingsChannel reports. The firm owned 3,688,644 shares of the bank’s stock after acquiring an additional 99,700 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bank Of Montreal were worth $499,186,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal in the second quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Bank Of Montreal in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC grew its position in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Bank Of Montreal during the fourth quarter worth $34,000. Finally, Swiss RE Ltd. acquired a new position in shares of Bank Of Montreal during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on BMO shares. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research downgraded 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $163.00.
Bank Of Montreal Trading Down 2.2%
BMO opened at $178.06 on Tuesday. The firm has a 50 day simple moving average of $168.44 and a 200 day simple moving average of $150.85. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The company has a market cap of $124.71 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. 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 (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings data 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. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.98 billion. During the same period last year, the firm earned $2.62 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current year.
Bank Of Montreal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. The ex-dividend date is Thursday, July 30th. 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. Bank Of Montreal’s dividend payout ratio is 50.96%.
About Bank Of Montreal
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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