Capital International Inc. CA increased its holdings in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 37.0% during the first quarter, Holdings Channel reports. The firm owned 165,819 shares of the bank’s stock after purchasing an additional 44,757 shares during the period. Capital International Inc. CA’s holdings in Bank of Montreal were worth $16,190,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BMO. Canoe Financial LP raised its holdings in shares of Bank of Montreal by 300,456.3% during the fourth quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock valued at $10,439,190,000 after acquiring an additional 105,475,200 shares during the period. Norges Bank acquired a new stake in shares of Bank of Montreal during the fourth quarter valued at approximately $812,644,000. FIL Ltd raised its holdings in shares of Bank of Montreal by 138.3% during the fourth quarter. FIL Ltd now owns 9,872,642 shares of the bank’s stock valued at $976,870,000 after acquiring an additional 5,729,145 shares during the period. National Bank of Canada FI raised its holdings in shares of Bank of Montreal by 38.0% during the first quarter. National Bank of Canada FI now owns 14,069,787 shares of the bank’s stock valued at $1,318,457,000 after acquiring an additional 3,874,573 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Bank of Montreal by 19.9% during the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock valued at $1,911,635,000 after acquiring an additional 3,187,998 shares during the period. 45.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BMO has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their price target for the company from $137.00 to $124.00 in a report on Monday, June 3rd. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, UBS Group began coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.50.
Bank of Montreal Stock Up 0.4 %
BMO traded up $0.35 on Friday, reaching $87.33. 3,920,166 shares of the company traded hands, compared to its average volume of 818,631. The stock’s 50 day moving average price is $86.89 and its 200-day moving average price is $91.50. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company has a market cap of $63.70 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99.
Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 29th. The bank reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. On average, sell-side analysts expect that Bank of Montreal will post 7.91 EPS for the current fiscal year.
Bank of Montreal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be paid a dividend of $1.125 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a dividend yield of 5.15%. Bank of Montreal’s dividend payout ratio is 74.25%.
Bank of Montreal Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
Further Reading
- Five stocks we like better than Bank of Montreal
- Why Are Stock Sectors Important to Successful Investing?
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- How to Invest in the FAANG Stocks
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO).
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.