Y Intercept Hong Kong Ltd Takes Position in Bank Of Montreal $BMO

Y Intercept Hong Kong Ltd bought a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 43,209 shares of the bank’s stock, valued at approximately $5,848,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. TD Asset Management Inc lifted its stake in Bank Of Montreal by 1.5% in the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock valued at $2,519,180,000 after buying an additional 293,575 shares during the period. FIL Ltd boosted its holdings 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 worth $1,226,622,000 after buying an additional 1,245,500 shares in the last quarter. Norges Bank bought a new position in shares of Bank Of Montreal during the 4th quarter worth approximately $1,059,320,000. Finally, Geode Capital Management LLC grew its position in shares of Bank Of Montreal by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after buying an additional 442,812 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BMO. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $174.04 on Friday. The company has a fifty day simple moving average of $162.47 and a 200 day simple moving average of $146.95. Bank Of Montreal has a 12-month low of $109.64 and a 12-month high of $178.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $121.90 billion, a P/E ratio of 18.48, a PEG ratio of 0.97 and a beta of 0.93.

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

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is 50.96%.

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.