Gateway Wealth Partners LLC Makes New $441,000 Investment in Bank Of Montreal $BMO

Gateway Wealth Partners LLC purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the first quarter, Holdings Channel.com reports. The firm purchased 3,260 shares of the bank’s stock, valued at approximately $441,000.

Several other institutional investors have also made changes to their positions in the company. WFA of San Diego LLC acquired a new position in Bank Of Montreal in the second quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Bank Of Montreal in the fourth quarter worth approximately $29,000. Larson Financial Group LLC grew its position in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Bank Of Montreal during the 4th quarter valued at $34,000. Finally, Swiss RE Ltd. bought a new position in shares of Bank Of Montreal during the 4th quarter valued at $38,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

Shares of Bank Of Montreal stock opened at $179.51 on Friday. 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 firm has a fifty day simple moving average of $172.64 and a 200-day simple moving average of $153.63. The stock has a market capitalization of $125.43 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a 1-year low of $109.64 and a 1-year high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The business had revenue of $7.04 billion for 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%. Bank Of Montreal’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.62 EPS. On average, sell-side analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. 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 currently 51.06%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMO. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Finally, TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.