Dixon Mitchell Investment Counsel Inc. Takes Position in Bank Of Montreal $BMO

Dixon Mitchell Investment Counsel Inc. acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,662 shares of the bank’s stock, valued at approximately $476,000.

A number of other institutional investors have also modified their holdings of BMO. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal during the fourth quarter worth approximately $29,000. Larson Financial Group LLC increased its position 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 purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Bank Of Montreal during the fourth quarter worth approximately $34,000. Finally, Swiss RE Ltd. acquired a new position in Bank Of Montreal during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $168.29 on Friday. The company’s fifty day simple moving average is $154.08 and its 200-day simple moving average is $142.09. Bank Of Montreal has a 52 week low of $104.08 and a 52 week high of $169.35. 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 $117.87 billion, a PE ratio of 17.86, a P/E/G ratio of 0.94 and a beta of 0.95.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its 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 for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter last year, the firm posted $2.62 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is 50.96%.

Analysts Set New Price Targets

Several brokerages recently commented on BMO. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Scotiabank raised shares of Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, June 1st. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.