3,005 Shares in Bank Of Montreal $BMO Purchased by Cherokee Insurance Co

Cherokee Insurance Co acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,005 shares of the bank’s stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its stake in Bank Of Montreal by 11.7% during the 1st quarter. Cerity Partners LLC now owns 12,197 shares of the bank’s stock worth $1,165,000 after buying an additional 1,281 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Bank Of Montreal by 23.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,845 shares of the bank’s stock worth $176,000 after acquiring an additional 355 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in shares of Bank Of Montreal during the first quarter worth approximately $274,000. Triasima Portfolio Management inc. raised its stake in Bank Of Montreal by 6,664.6% in the 1st quarter. Triasima Portfolio Management inc. now owns 143,072 shares of the bank’s stock valued at $13,661,000 after purchasing an additional 140,957 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. purchased a new position in Bank Of Montreal in the 1st quarter valued at $23,136,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BMO shares. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Cowen restated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.8%

Shares of Bank Of Montreal stock opened at $126.22 on Thursday. The stock has a 50 day moving average of $127.01 and a 200 day moving average of $115.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $90.26 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.28 and a beta of 1.04. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36.

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

Bank Of Montreal Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 5.2%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal’s payout ratio is 57.28%.

About Bank Of Montreal

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.