Alberta Investment Management Corp Decreases Stock Holdings in Bank Of Montreal $BMO

Alberta Investment Management Corp trimmed its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000,300 shares of the bank's stock after selling 108,200 shares during the quarter. Bank Of Montreal accounts for approximately 0.7% of Alberta Investment Management Corp's holdings, making the stock its 14th biggest holding. Alberta Investment Management Corp owned approximately 0.14% of Bank Of Montreal worth $129,909,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BMO. AQR Capital Management LLC increased its position in shares of Bank Of Montreal by 87.1% during the 1st 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Bank Of Montreal during the 2nd quarter worth about $1,018,000. Cerity Partners LLC boosted its stake in shares of 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 purchasing an additional 167 shares during the period. Qube Research & Technologies Ltd grew 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 valued at $45,518,000 after purchasing an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Bank Of Montreal by 5,614.3% during the 2nd 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 during the last quarter. Institutional investors own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

BMO has been the topic of several recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday. Weiss Ratings cut Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, June 12th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Barclays reiterated an "underweight" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Stock Performance

BMO stock opened at $170.80 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average price of $156.69 and a 200 day moving average price of $143.48. The company has a market capitalization of $119.63 billion, a P/E ratio of 18.13, a PEG ratio of 0.95 and a beta of 0.95. Bank Of Montreal has a 1-year low of $104.08 and a 1-year high of $173.20.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (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 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 company posted $2.62 earnings per share. As a group, equities research analysts forecast that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal's dividend payout ratio is presently 50.96%.

About Bank Of Montreal

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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