Strategic Investment Advisors MI Acquires New Stake in Bank Of Montreal $BMO

Strategic Investment Advisors MI bought a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,556 shares of the bank’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. boosted its holdings in shares of Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after buying an additional 472,000 shares during the last quarter. Andra AP fonden bought a new stake in Bank Of Montreal during the first quarter valued at approximately $3,979,000. Vanguard Group Inc. increased its holdings in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after buying an additional 673,248 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after acquiring an additional 333,994 shares during the period. Finally, Generali Asset Management SPA SGR raised its position in Bank Of Montreal by 15.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 86,672 shares of the bank’s stock worth $11,249,000 after acquiring an additional 11,320 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 0.5%

Shares of BMO stock opened at $179.51 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day simple moving average of $172.64 and a two-hundred day simple moving average of $153.63. The firm has a market capitalization of $125.43 billion, a PE ratio of 19.06, a PEG ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.62 earnings per share. On average, analysts predict that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is presently 51.06%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Desjardins restated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $163.00.

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.