Todd Asset Management LLC lifted its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,753 shares of the bank’s stock after purchasing an additional 5,250 shares during the quarter. Todd Asset Management LLC’s holdings in Bank of Montreal were worth $16,965,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Bank of Montreal by 149.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,044 shares of the bank’s stock worth $87,321,000 after purchasing an additional 633,447 shares during the last quarter. Vanguard Group Inc boosted its holdings in Bank of Montreal by 2.7% in the third quarter. Vanguard Group Inc now owns 16,878,668 shares of the bank’s stock valued at $1,392,996,000 after acquiring an additional 444,234 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Bank of Montreal by 174.2% in the fourth quarter. Intact Investment Management Inc. now owns 776,723 shares of the bank’s stock valued at $69,206,000 after acquiring an additional 493,500 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Bank of Montreal by 84.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 18,004 shares of the bank’s stock valued at $1,176,000 after acquiring an additional 8,218 shares during the last quarter. Finally, Berkshire Asset Management LLC PA boosted its holdings in Bank of Montreal by 2.1% in the fourth quarter. Berkshire Asset Management LLC PA now owns 152,145 shares of the bank’s stock valued at $9,943,000 after acquiring an additional 3,200 shares during the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bank of Montreal stock traded up $0.53 during trading on Tuesday, reaching $77.63. 33,354 shares of the company’s stock were exchanged, compared to its average volume of 494,495. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Montreal has a 1-year low of $62.79 and a 1-year high of $84.36. The stock has a market capitalization of $49.41 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.06. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.61 billion. Bank of Montreal had a return on equity of 14.89% and a net margin of 17.43%. Bank of Montreal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. On average, research analysts forecast that Bank of Montreal will post 7.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Wednesday, May 1st will be given a $0.762 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, April 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.75. Bank of Montreal’s payout ratio is 42.78%.
Several research firms recently issued reports on BMO. Zacks Investment Research upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research report on Friday. ValuEngine upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Bank of America downgraded Bank of Montreal from a “neutral” rating to an “underperform” rating in a research note on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Bank of Montreal presently has a consensus rating of “Hold” and an average price target of $105.33.
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About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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