Bank Of Montreal $BMO Stock: Triasima Portfolio Management inc. Boosts Holdings

Key Points

• Triasima Portfolio Management increased its Bank of Montreal stake by 4.9% in the third quarter, bringing its holdings to 161,565 shares worth approximately $27.1 million. Institutional investors and hedge funds collectively own 45.82% of the stock.
• Analyst sentiment is mixed, with six Buy, six Hold and one Sell rating; the consensus rating is Hold and the average price target is $244.00.
• Bank of Montreal exceeded quarterly earnings expectations, reporting $2.84 EPS versus $2.71 expected and revenue of $7.10 billion. The bank also announced a C$1.71 quarterly dividend, representing a 4.1% annualized yield.

Triasima Portfolio Management inc. raised its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,565 shares of the bank's stock after purchasing an additional 7,581 shares during the quarter. Bank Of Montreal accounts for approximately 3.5% of Triasima Portfolio Management inc.'s portfolio, making the stock its 4th largest position. Triasima Portfolio Management inc.'s holdings in Bank Of Montreal were worth $27,081,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Riversedge Advisors LLC lifted its stake in Bank Of Montreal by 12.9% during the 3rd quarter. Riversedge Advisors LLC now owns 1,536 shares of the bank's stock worth $257,000 after acquiring an additional 175 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Bank Of Montreal by 0.9% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 202,413 shares of the bank's stock valued at $33,928,000 after acquiring an additional 1,800 shares during the period. Farther Finance Advisors LLC grew its position in Bank Of Montreal by 5.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,012 shares of the bank's stock valued at $1,006,000 after acquiring an additional 300 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in Bank Of Montreal in the 3rd quarter valued at about $84,000. Finally, Versant Capital Management Inc grew its position in Bank Of Montreal by 4.3% in the 3rd quarter. Versant Capital Management Inc now owns 4,425 shares of the bank's stock valued at $740,000 after acquiring an additional 184 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMO shares. Barclays reissued an "underweight" rating on shares of Bank Of Montreal in a research report on Friday, August 21st. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Weiss Ratings cut shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday. Canadian Imperial Bank of Commerce downgraded shares of Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $244.00.

Bank Of Montreal Trading Up 1.4%

NYSE:BMO opened at $165.96 on Friday. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The firm has a market cap of $115.36 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $172.76 and a 200 day moving average price of $166.48.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. Bank Of Montreal's revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 EPS. Sell-side analysts anticipate that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be given a dividend of C$1.71 per share. 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 4.1%. Bank Of Montreal's payout ratio is currently 54.29%.

Bank Of Montreal Profile

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada's largest banks and the country's oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.

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