Bank Of Montreal $BMO Shares Purchased by Shell Asset Management Co.

Shell Asset Management Co. raised its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 119.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,011 shares of the bank’s stock after buying an additional 15,820 shares during the quarter. Shell Asset Management Co.’s holdings in Bank Of Montreal were worth $3,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its position in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after purchasing an additional 190 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $39,000. CX Institutional acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $42,000. Finally, HM Payson & Co. acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BMO shares. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $168.00 to $163.00 in a research report on Friday. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a report on Saturday, September 27th. Finally, CIBC raised Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $128.72 on Wednesday. The business has a 50 day simple moving average of $121.50 and a 200 day simple moving average of $109.52. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $92.02 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.03. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.36.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly 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. The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $2.64 EPS. On average, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared 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 represents a $6.52 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio is 58.63%.

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.