Puzo Michael J Invests $618,000 in Bank Of Montreal $BMO

Puzo Michael J purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,500 shares of the bank’s stock, valued at approximately $618,000.

Several other hedge funds also recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Bank Of Montreal during the second quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal in the fourth quarter valued at about $29,000. Larson Financial Group LLC boosted its holdings in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after buying an additional 196 shares during the last quarter. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal during the 2nd quarter worth about $28,000. Finally, Western Wealth Management LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth about $38,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $175.77 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a 52 week low of $112.21 and a 52 week high of $187.22. The company’s 50 day moving average price is $177.42 and its two-hundred day moving average price is $157.91. The company has a market capitalization of $122.54 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.62 EPS. On average, analysts expect that Bank Of Montreal will post 10.54 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is presently 51.06%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMO. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce cut shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal presently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal 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.