62,678 Shares in Bank Of Montreal $BMO Purchased by Man Group plc

Man Group plc bought a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 62,678 shares of the bank's stock, valued at approximately $11,075,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Bank Of Montreal by 87.1% in the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank's stock valued at $548,000 after purchasing an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Bank Of Montreal during the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC increased its stake in Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank's stock worth $1,368,000 after buying an additional 167 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank's stock worth $45,518,000 after buying an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank's stock valued at $310,000 after buying an additional 2,751 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on BMO shares. Royal Bank Of Canada restated a "sector perform" rating on shares of Bank Of Montreal in a research note on Thursday. Weiss Ratings lowered Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Raymond James Financial reissued an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They issued an "outperform" rating on the stock. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Price Performance

BMO stock opened at $172.06 on Friday. The business has a 50 day moving average price of $177.93 and a 200 day moving average price of $159.41. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a market cap of $119.95 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.02 and a beta of 0.94. Bank Of Montreal has a fifty-two week low of $118.66 and a fifty-two week high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The company 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 11.72% and a return on equity of 13.60%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 earnings per share. Equities research analysts anticipate that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is 54.29%.

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.

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