Bank Of Montreal $BMO Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 97,377 shares of the bank’s stock after acquiring an additional 5,363 shares during the period. Bank Of Montreal accounts for 3.1% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 5th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Bank Of Montreal were worth $12,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Bank Of Montreal during the second quarter worth $1,184,220,000. Public Sector Pension Investment Board grew its holdings in shares of Bank Of Montreal by 2,986.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock worth $240,009,000 after purchasing an additional 2,099,800 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bank Of Montreal by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock worth $3,567,773,000 after purchasing an additional 1,196,237 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after purchasing an additional 1,070,546 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Bank Of Montreal by 19.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock valued at $655,674,000 after purchasing an additional 939,156 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Performance

BMO stock opened at $137.72 on Monday. The company has a 50 day moving average price of $129.65 and a 200 day moving average price of $124.40. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $139.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $97.45 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. Analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be given a $1.67 dividend. The ex-dividend date is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a yield of 4.9%. Bank Of Montreal’s dividend payout ratio is 57.35%.

Analyst Ratings Changes

BMO has been the topic of several research analyst reports. Natl Bk Canada cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $168.00 to $163.00 in a research report on Friday, October 3rd. Raymond James Financial initiated coverage on Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating for the company. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

About Bank Of Montreal

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.