International Assets Investment Management LLC Takes Position in Bank Of Montreal $BMO

International Assets Investment Management LLC purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 406,135 shares of the bank’s stock, valued at approximately $54,966,000. Bank Of Montreal accounts for 1.3% of International Assets Investment Management LLC’s investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds also recently bought and sold shares of BMO. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Bank Of Montreal during the fourth quarter worth about $29,000. Larson Financial Group LLC raised its holdings in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares in the last quarter. WFA of San Diego LLC purchased a new position in Bank Of Montreal in the second quarter worth approximately $28,000. Flagship Harbor Advisors LLC purchased a new position in Bank Of Montreal in the fourth quarter worth approximately $34,000. Finally, Swiss RE Ltd. acquired a new position in Bank Of Montreal during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Ratings Changes

BMO has been the topic of a number of analyst reports. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bank Of Montreal presently has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO traded up $2.42 during trading hours on Friday, reaching $179.08. 474,832 shares of the company’s stock were exchanged, compared to its average volume of 758,948. Bank Of Montreal has a 1-year low of $109.64 and a 1-year high of $179.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $125.43 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.00 and a beta of 0.93. The company has a 50-day moving average of $165.05 and a 200 day moving average of $148.59.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same period in the prior year, the company earned $2.62 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Bank Of Montreal 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.