Quantinno Capital Management LP Grows Position in Bank Of Montreal $BMO

Quantinno Capital Management LP lifted its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,599 shares of the bank’s stock after acquiring an additional 18,164 shares during the quarter. Quantinno Capital Management LP’s holdings in Bank Of Montreal were worth $8,878,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMO. Vanguard Group Inc. boosted its position in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Bank Of Montreal by 1.5% during the 4th quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock valued at $2,519,180,000 after buying an additional 293,575 shares in the last quarter. FIL Ltd grew its stake in Bank Of Montreal by 15.2% in the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after acquiring an additional 1,245,500 shares during the period. Norges Bank acquired a new stake in Bank Of Montreal in the 4th quarter valued at $1,059,320,000. Finally, Geode Capital Management LLC increased its holdings in Bank Of Montreal by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after acquiring an additional 442,812 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bank Of Montreal presently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $179.78 on Wednesday. The firm has a 50 day simple moving average of $173.38 and a 200-day simple moving average of $154.43. The stock has a market cap of $125.62 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a 1-year low of $111.22 and a 1-year high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the previous year, the company earned $2.62 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

About Bank Of Montreal

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.