8,099 Shares in Bank Of Montreal $BMO Bought by North Star Asset Management Inc.

Key Points

• North Star Asset Management acquired 8,099 Bank of Montreal shares in the second quarter, valued at approximately $1.43 million. Institutional investors collectively own 45.82% of BMO’s outstanding stock.
• Analyst sentiment is mixed: five analysts rate BMO a Buy, six recommend Hold and one recommends Sell, resulting in a consensus Hold rating with an average price target of $163.
• BMO reported quarterly earnings of $2.68 per share, exceeding estimates, while revenue rose 10.2% year over year to $7.04 billion. The bank also declared a quarterly dividend of $1.71, representing a 4.0% annualized yield.

North Star Asset Management Inc. acquired a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,099 shares of the bank's stock, valued at approximately $1,431,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank's stock worth $548,000 after acquiring an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Bank Of Montreal in the second quarter worth about $1,018,000. Cerity Partners LLC grew its holdings in Bank Of Montreal by 1.4% in the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank's stock worth $1,368,000 after purchasing an additional 167 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Bank Of Montreal by 166.3% during the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank's stock valued at $45,518,000 after purchasing an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Bank Of Montreal by 5,614.3% during the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank's stock valued at $310,000 after purchasing an additional 2,751 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Analyst Ratings Changes

BMO has been the topic of a number of analyst reports. Scotiabank reissued an "outperform" rating on shares of Bank Of Montreal in a research report on Wednesday. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an "outperform" rating for the company. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Barclays reissued an "underweight" rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, Raymond James Financial restated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Trading Down 0.4%

NYSE:BMO opened at $172.16 on Friday. The stock has a market cap of $120.02 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.05 and a beta of 0.94. 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 company's 50 day moving average price is $177.91 and its 200-day moving average price is $159.32. Bank Of Montreal has a 52 week low of $118.47 and a 52 week high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion during 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 for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.62 EPS. On average, equities research analysts forecast that Bank Of Montreal will post 10.55 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

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

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.

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