Northwestern Mutual Wealth Management Co. Makes New Investment in Bank Of Montreal $BMO

Northwestern Mutual Wealth Management Co. acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,886 shares of the bank’s stock, valued at approximately $4,751,000.

Several other hedge funds have also recently modified their holdings of BMO. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Bank Of Montreal in the 2nd quarter worth approximately $28,000. WFA of San Diego LLC purchased a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Bank Of Montreal during the fourth quarter worth $29,000. Larson Financial Group LLC lifted its holdings in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. Finally, Western Wealth Management LLC purchased a new position in Bank Of Montreal in the first quarter worth $38,000. Institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BMO shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods began coverage on shares of Bank Of Montreal in a report on Friday. They set an “outperform” rating for the company. Finally, Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $174.34 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $177.66 and a two-hundred day simple moving average of $158.42. Bank Of Montreal has a 1-year low of $112.58 and a 1-year high of $187.22. The firm has a market cap of $121.54 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period in the previous year, the company posted $2.62 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Bank Of Montreal will post 10.49 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 3.9%. Bank Of Montreal’s payout ratio is 51.06%.

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.