PCM Encore LLC acquired a new stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,136 shares of the bank’s stock, valued at approximately $731,000.
A number of other hedge funds have also recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Bank Of Montreal by 87.1% during the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after purchasing an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Bank Of Montreal in the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC boosted its stake in 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 purchasing an additional 167 shares during the period. Qube Research & Technologies Ltd boosted its stake in 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 purchasing an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Bank Of Montreal by 5,614.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after buying an additional 2,751 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal has an average rating of “Hold” and an average target price of $163.00.
Bank Of Montreal Trading Down 1.6%
Shares of BMO stock opened at $172.93 on Friday. Bank Of Montreal has a 1 year low of $112.21 and a 1 year high of $187.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $177.54 and its two-hundred day simple moving average is $158.17. The company has a market cap of $120.56 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.62 EPS. Research analysts predict that Bank Of Montreal will post 10.54 earnings per share for the current year.
Bank Of Montreal Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. This is a positive change 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 (DPR) is presently 51.06%.
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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