Bank Of Montreal $BMO Position Lifted by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,701 shares of the bank’s stock after buying an additional 44,618 shares during the quarter. Bank Of Montreal makes up 4.4% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 6th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned 0.08% of Bank Of Montreal worth $67,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BMO. Goldman Sachs Group Inc. increased its position in shares of Bank Of Montreal by 213.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock worth $406,825,000 after acquiring an additional 2,899,061 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Bank Of Montreal by 66.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock valued at $351,154,000 after purchasing an additional 1,469,084 shares during the period. International Assets Investment Management LLC bought a new position in Bank Of Montreal in the second quarter worth approximately $612,000. Nuveen LLC purchased a new position in Bank Of Montreal during the 1st quarter worth $52,070,000. Finally, Vanguard Group Inc. increased its holdings in Bank Of Montreal by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank’s stock worth $2,960,102,000 after purchasing an additional 503,027 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $123.57 on Friday. The company has a market capitalization of $88.03 billion, a PE ratio of 15.12, a P/E/G ratio of 1.28 and a beta of 1.04. The company has a 50-day simple moving average of $126.80 and a two-hundred day simple moving average of $114.81. Bank Of Montreal has a one year low of $85.40 and a one year high of $131.36. 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 (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts expect that Bank Of Montreal will post 7.71 EPS 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. Stockholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 5.3%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is currently 57.28%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMO. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank Of Montreal in a research note on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

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.