Corient Private Wealth LP Invests $3.86 Million in Bank Of Montreal $BMO

Corient Private Wealth LP acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, HoldingsChannel.com reports. The fund acquired 21,844 shares of the bank’s stock, valued at approximately $3,859,000.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc lifted its stake in shares of Bank Of Montreal by 1.5% in 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 purchasing an additional 293,575 shares during the period. FIL Ltd boosted its position in shares of Bank Of Montreal by 15.2% during the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after purchasing an additional 1,245,500 shares in the last quarter. Norges Bank acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $1,059,320,000. Canada Pension Plan Investment Board acquired a new stake in Bank Of Montreal during the second quarter worth approximately $1,281,220,000. Finally, Geode Capital Management LLC increased its holdings in Bank Of Montreal by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after purchasing an additional 442,812 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 0.9%

Bank Of Montreal stock opened at $170.39 on Tuesday. The firm has a 50 day simple moving average of $177.88 and a 200 day simple moving average of $159.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a 1-year low of $118.66 and a 1-year high of $187.22. The firm has a market capitalization of $118.79 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.02 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.13. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.23 earnings per share. On average, analysts predict that Bank Of Montreal will post 10.76 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. Bank Of Montreal’s dividend payout ratio is 54.29%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMO shares. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

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.