Bank Of Montreal $BMO Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 104.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,484 shares of the bank’s stock after buying an additional 4,834 shares during the quarter. HB Wealth Management LLC’s holdings in Bank Of Montreal were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its holdings in Bank Of Montreal by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 20,944 shares of the bank’s stock valued at $2,835,000 after buying an additional 226 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Bank Of Montreal during the 1st quarter worth about $5,848,000. Keybank National Association OH lifted its holdings in shares of Bank Of Montreal by 26.4% during the 1st quarter. Keybank National Association OH now owns 11,755 shares of the bank’s stock worth $1,591,000 after acquiring an additional 2,458 shares during the period. USS Investment Management Ltd boosted its position in shares of Bank Of Montreal by 1.0% in the first quarter. USS Investment Management Ltd now owns 110,275 shares of the bank’s stock worth $14,898,000 after acquiring an additional 1,126 shares during the last quarter. Finally, KOM Wealth Management Group LLC purchased a new stake in Bank Of Montreal in the first quarter valued at approximately $206,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BMO. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $178.32 on Wednesday. The firm’s fifty day simple moving average is $163.48 and its 200 day simple moving average is $147.73. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $109.64 and a twelve month high of $179.33. The firm has a market capitalization of $124.90 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.99 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period last year, the company posted $2.62 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current fiscal 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 issued a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

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.