Code Waechter LLC Makes New $282,000 Investment in Bank Of Montreal (NYSE:BMO)

Code Waechter LLC acquired a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,952 shares of the bank's stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC purchased a new stake in shares of Bank Of Montreal in the fourth quarter valued at $39,000. CX Institutional purchased a new stake in shares of Bank Of Montreal in the first quarter valued at $42,000. HM Payson & Co. purchased a new stake in shares of Bank Of Montreal in the first quarter valued at $42,000. Wayfinding Financial LLC purchased a new stake in shares of Bank Of Montreal in the first quarter valued at $44,000. Finally, Montag & Caldwell LLC purchased a new stake in shares of Bank Of Montreal in the fourth quarter valued at $60,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Scotiabank assumed coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Cibc World Mkts lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Trading Down 0.7%

Bank Of Montreal stock traded down $0.79 during trading on Friday, hitting $113.74. The company's stock had a trading volume of 398,114 shares, compared to its average volume of 799,943. The stock has a market capitalization of $81.92 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.25 and a beta of 1.07. The stock's fifty day moving average is $106.49 and its 200 day moving average is $100.48. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $114.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.59 earnings per share. As a group, equities research analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a yield of 4.15%. Bank Of Montreal's dividend payout ratio is currently 57.33%.

Bank Of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.