Silverlake Wealth Management LLC Invests $685,000 in Bank Of Montreal $BMO

Silverlake Wealth Management LLC acquired a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, HoldingsChannel reports. The fund acquired 3,875 shares of the bank’s stock, valued at approximately $685,000.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new position in Bank Of Montreal in the fourth quarter worth approximately $1,059,320,000. Morgan Stanley lifted its holdings in Bank Of Montreal by 74.4% during the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after buying an additional 1,628,318 shares during the period. UBS Group AG boosted its position in Bank Of Montreal by 155.3% during the 3rd quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock valued at $277,091,000 after acquiring an additional 1,294,169 shares in the last quarter. FIL Ltd boosted its position in 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 acquiring an additional 1,245,500 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Bank Of Montreal in the 4th quarter valued at $129,909,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Shares of BMO opened at $185.75 on Friday. The company has a 50 day moving average of $176.43 and a two-hundred day moving average of $156.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $112.21 and a twelve month high of $185.86. The company has a market cap of $129.49 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the prior year, the firm posted $2.62 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Bank Of Montreal will post 11.86 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 3.7%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BMO shares. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $163.00.

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.