OMERS ADMINISTRATION Corp Trims Stake in Bank Of Montreal $BMO

OMERS ADMINISTRATION Corp cut its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,220,655 shares of the bank’s stock after selling 23,500 shares during the period. Bank Of Montreal accounts for approximately 1.1% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 22nd largest position. OMERS ADMINISTRATION Corp’s holdings in Bank Of Montreal were worth $164,807,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Bank Of Montreal in the 4th quarter valued at approximately $1,059,320,000. Morgan Stanley boosted its position in shares of Bank Of Montreal by 74.4% during the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock valued at $495,461,000 after purchasing an additional 1,628,318 shares in the last quarter. UBS Group AG grew its stake in Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after purchasing an additional 1,294,169 shares during the period. FIL Ltd grew its stake in Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after purchasing an additional 1,245,500 shares during the period. Finally, Alberta Investment Management Corp bought a new position in Bank Of Montreal in the fourth quarter worth $129,909,000. 45.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a 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, Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $177.84 on Friday. The company has a market capitalization of $124.56 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a one year low of $109.64 and a one year high of $184.21. The company’s 50-day moving average is $170.52 and its 200 day moving average is $152.04.

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, topping the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.62 earnings per share. Sell-side analysts expect that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 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.