Gold Investment Management Ltd. Boosts Position in Bank Of Montreal $BMO

Gold Investment Management Ltd. grew its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,427 shares of the bank’s stock after acquiring an additional 210 shares during the quarter. Gold Investment Management Ltd.’s holdings in Bank Of Montreal were worth $2,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BMO. Squarepoint Ops LLC lifted its position in shares of Bank Of Montreal by 53.1% in the fourth quarter. Squarepoint Ops LLC now owns 5,454 shares of the bank’s stock valued at $529,000 after acquiring an additional 1,892 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bank Of Montreal by 9,451.0% in the first quarter. GAMMA Investing LLC now owns 149,951 shares of the bank’s stock valued at $14,322,000 after acquiring an additional 148,381 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Bank Of Montreal by 116,600.0% in the first quarter. NBC Securities Inc. now owns 3,501 shares of the bank’s stock valued at $334,000 after acquiring an additional 3,498 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Bank Of Montreal by 21.9% in the first quarter. Merit Financial Group LLC now owns 4,899 shares of the bank’s stock valued at $468,000 after acquiring an additional 879 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Bank Of Montreal by 16.5% in the first quarter. UMB Bank n.a. now owns 13,403 shares of the bank’s stock valued at $1,280,000 after acquiring an additional 1,895 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

BMO stock opened at $130.48 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36. The firm has a market cap of $93.28 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The stock has a 50-day simple moving average of $120.26 and a 200-day simple moving average of $108.56.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same quarter last year, the firm earned $2.64 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.63 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. Bank Of Montreal’s payout ratio is 58.63%.

Analyst Ratings Changes

Several equities analysts recently commented on BMO shares. Barclays lowered Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 9th. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Finally, Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Bank Of Montreal currently has an average rating of “Moderate Buy” and a consensus target price of $168.00.

Bank Of Montreal Company 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.