8,834 Shares of Bank Of Montreal $BMO Bought by Associated Banc Corp

Associated Banc Corp bought a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,834 shares of the bank's stock, valued at approximately $1,477,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Bank Of Montreal during the 2nd quarter worth $1,281,220,000. Caisse de depot et placement du Quebec acquired a new stake in Bank Of Montreal in the second quarter worth $957,549,000. Bank of Nova Scotia acquired a new position in shares of Bank Of Montreal during the second quarter valued at $920,002,000. Legal & General Group Plc acquired a new position in shares of Bank Of Montreal during the second quarter valued at $744,214,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bank Of Montreal during the second quarter worth about $677,074,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Stock Up 3.3%

BMO stock opened at $177.44 on Thursday. Bank Of Montreal has a 52 week low of $119.84 and a 52 week high of $187.22. The company has a market capitalization of $122.73 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The firm's 50-day moving average is $170.46 and its two-hundred day moving average is $160.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $6.94 billion. During the same period last year, the firm posted $3.23 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that Bank Of Montreal will post 10.65 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a dividend of C$1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 54.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BMO shares. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Thursday, August 27th. Weiss Ratings downgraded shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Barclays restated an "underweight" rating on shares of Bank Of Montreal in a research report on Friday, August 21st. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Bank Of Montreal presently has an average rating of "Hold" and a consensus target price of $244.00.

Bank Of Montreal Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada's oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.

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