Callan Family Office LLC Buys New Shares in Bank Of Montreal $BMO

Callan Family Office LLC purchased a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,810 shares of the bank's stock, valued at approximately $1,380,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its stake in Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank's stock valued at $62,233,000 after purchasing an additional 472,000 shares in the last quarter. Tacita Capital Inc bought a new stake in shares of Bank Of Montreal during the 2nd quarter worth approximately $1,518,000. Andra AP fonden acquired a new stake in shares of Bank Of Montreal in the 1st quarter valued at approximately $3,979,000. Deutsche Bank AG bought a new position in shares of Bank Of Montreal in the second quarter valued at $235,791,000. Finally, Vanguard Group Inc. increased its holdings in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank's stock worth $4,287,878,000 after buying an additional 673,248 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays reaffirmed an "underweight" rating on shares of Bank Of Montreal in a research report on Friday. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Zacks Research cut shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Desjardins reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $163.00.

Bank Of Montreal Stock Down 0.1%

BMO opened at $174.34 on Monday. Bank Of Montreal has a 1-year low of $112.58 and a 1-year high of $187.22. The stock's fifty day simple moving average is $177.66 and its 200 day simple moving average is $158.42. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market cap of $121.54 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results 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. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter last year, the firm posted $2.62 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Bank Of Montreal will post 10.49 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. Bank Of Montreal's payout ratio is currently 51.06%.

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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