Cumberland Partners Ltd Has $4.72 Million Stake in Bank Of Montreal $BMO

Cumberland Partners Ltd decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,895 shares of the bank’s stock after selling 6,113 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank Of Montreal were worth $4,717,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Bank Of Montreal by 7.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,495,672 shares of the bank’s stock valued at $473,306,000 after acquiring an additional 228,210 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Bank Of Montreal by 6.6% during the 1st quarter. Hilltop Holdings Inc. now owns 2,448 shares of the bank’s stock valued at $331,000 after purchasing an additional 151 shares in the last quarter. Morningstar Investment Management LLC raised its holdings in shares of Bank Of Montreal by 11.5% during the 1st quarter. Morningstar Investment Management LLC now owns 10,675 shares of the bank’s stock valued at $1,446,000 after purchasing an additional 1,104 shares in the last quarter. Compound Planning Inc. lifted its stake in shares of Bank Of Montreal by 12.9% in the 1st quarter. Compound Planning Inc. now owns 9,660 shares of the bank’s stock valued at $1,307,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Modern Wealth Management LLC boosted its holdings in Bank Of Montreal by 39.0% in the first quarter. Modern Wealth Management LLC now owns 2,430 shares of the bank’s stock worth $333,000 after purchasing an additional 682 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Up 0.7%

Shares of BMO stock opened at $177.84 on Friday. Bank Of Montreal has a 12 month low of $109.64 and a 12 month high of $184.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $124.56 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The stock has a 50 day moving average of $170.52 and a 200-day moving average of $152.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter last year, the company posted $2.62 earnings per share. Bank Of Montreal’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 3.8%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is 51.06%.

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.