BlackRock Inc. Takes Position in Bank Of Montreal $BMO

Key Points

• BlackRock acquired 622,130 shares of Bank of Montreal in the second quarter, worth approximately $109.9 million and representing about 0.09% of the bank. Institutional investors collectively own 45.82% of BMO.
• Bank of Montreal exceeded quarterly expectations, reporting $2.68 in EPS and $7.04 billion in revenue, with revenue rising 10.2% year over year.
• BMO declared a quarterly dividend of $1.71 per share, equivalent to an annualized $6.84 payout and a 4.0% yield. Analysts maintain a consensus “Hold” rating with a $163 target price, below the reported $172.06 share price.

BlackRock Inc. acquired a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 622,130 shares of the bank's stock, valued at approximately $109,930,000. BlackRock Inc. owned approximately 0.09% of Bank Of Montreal at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jefferies Financial Group Inc. lifted its stake in Bank Of Montreal by 6,300.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank's stock worth $62,233,000 after purchasing an additional 472,000 shares during the last quarter. Andra AP fonden bought a new position in shares of Bank Of Montreal during the 1st quarter valued at about $3,979,000. Deutsche Bank AG bought a new position in shares of Bank Of Montreal during the 2nd quarter valued at about $235,791,000. Generali Asset Management SPA SGR raised its holdings in shares of Bank Of Montreal by 15.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 86,672 shares of the bank's stock valued at $11,249,000 after buying an additional 11,320 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bank Of Montreal by 2,127.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank's stock valued at $45,387,000 after buying an additional 333,994 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Trading Down 0.0%

Shares of BMO opened at $172.06 on Friday. The stock has a market capitalization of $119.95 billion, a P/E ratio of 19.42, a PEG ratio of 1.02 and a beta of 0.94. Bank Of Montreal has a twelve month low of $118.66 and a twelve month high of $187.22. 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 firm has a fifty day simple moving average of $177.93 and a two-hundred day simple moving average of $159.41.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analysts' expectations of $6.98 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.62 earnings per share. On average, research analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

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

Wall Street Analysts Forecast Growth

BMO has been the subject of several analyst reports. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research report on Wednesday. Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an "outperform" rating on the stock. Weiss Ratings lowered Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Barclays restated an "underweight" rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, Desjardins restated a "hold" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Hold" and a consensus target price of $163.00.

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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