Bank Of Montreal $BMO Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2,127.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 349,694 shares of the bank’s stock after purchasing an additional 333,994 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank Of Montreal were worth $45,387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Bank Of Montreal by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. Canerector Inc. raised its stake in shares of Bank Of Montreal by 18,035.0% in the 3rd quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock valued at $2,952,605,000 after purchasing an additional 22,543,750 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Bank Of Montreal by 10.3% in the 3rd quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock valued at $2,486,691,000 after purchasing an additional 1,789,188 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Bank Of Montreal by 17.3% in the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after purchasing an additional 1,070,546 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Bank Of Montreal by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 4,525,666 shares of the bank’s stock valued at $589,861,000 after purchasing an additional 176,923 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BMO shares. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Barclays lowered shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.9%

Bank Of Montreal stock opened at $153.81 on Tuesday. The firm has a 50 day simple moving average of $144.45 and a 200-day simple moving average of $136.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $107.81 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 0.87 and a beta of 0.94. Bank Of Montreal has a 12-month low of $102.68 and a 12-month high of $156.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. The business had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. As a group, equities research analysts expect that Bank Of Montreal will post 11.57 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be issued a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a dividend yield of 4.3%. Bank Of Montreal’s dividend payout ratio (DPR) is 55.75%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.