Public Sector Pension Investment Board Buys 2,099,800 Shares of Bank Of Montreal $BMO

Public Sector Pension Investment Board increased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2,986.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,170,118 shares of the bank’s stock after acquiring an additional 2,099,800 shares during the quarter. Bank Of Montreal makes up 1.0% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 12th largest position. Public Sector Pension Investment Board owned approximately 0.30% of Bank Of Montreal worth $240,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Bank Of Montreal in the second quarter worth approximately $61,000. Corient Private Wealth LLC boosted its position in Bank Of Montreal by 30.2% during the 2nd quarter. Corient Private Wealth LLC now owns 22,684 shares of the bank’s stock valued at $2,510,000 after buying an additional 5,267 shares during the period. Ewing Morris & Co. Investment Partners Ltd. grew its holdings in Bank Of Montreal by 0.9% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 26,888 shares of the bank’s stock worth $2,974,000 after acquiring an additional 241 shares during the last quarter. WFA of San Diego LLC bought a new stake in Bank Of Montreal in the 2nd quarter worth $28,000. Finally, Orion Porfolio Solutions LLC raised its stake in shares of Bank Of Montreal by 9.3% during the second quarter. Orion Porfolio Solutions LLC now owns 10,246 shares of the bank’s stock valued at $1,134,000 after acquiring an additional 875 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BMO shares. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. Natl Bk Canada downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Down 0.3%

NYSE BMO opened at $131.65 on Friday. The firm has a market capitalization of $93.68 billion, a PE ratio of 16.13, a P/E/G ratio of 1.09 and a beta of 0.95. The stock’s 50 day moving average is $125.55 and its 200 day moving average is $119.27. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $132.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, beating the consensus estimate of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. Research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a yield of 5.1%. Bank Of Montreal’s payout ratio is presently 57.35%.

Bank Of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.