Cliftonlarsonallen Wealth Advisors LLC Buys New Stake in Bank Of Montreal $BMO

Key Points

• Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in Bank of Montreal, purchasing 19,044 shares valued at approximately $2.1 million during the second quarter.
• Bank of Montreal recently announced a quarterly dividend of $1.63, an increase from the previous $1.18, which represents a 5.0% yield.
• The bank reported earnings of $2.33 per share for the latest quarter, exceeding analyst expectations, despite revenue falling short of estimates at $6.51 billion.

Cliftonlarsonallen Wealth Advisors LLC purchased a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,044 shares of the bank's stock, valued at approximately $2,107,000.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Bank Of Montreal by 213.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after acquiring an additional 2,899,061 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after acquiring an additional 1,469,084 shares during the last quarter. Nuveen LLC purchased a new stake in Bank Of Montreal during the first quarter valued at approximately $52,070,000. Vanguard Group Inc. raised its position in Bank Of Montreal by 1.6% during the first quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank's stock valued at $2,960,102,000 after purchasing an additional 503,027 shares during the period. Finally, Value Partners Investments Inc. lifted its stake in shares of Bank Of Montreal by 803.3% in the 1st quarter. Value Partners Investments Inc. now owns 508,135 shares of the bank's stock valued at $48,573,000 after purchasing an additional 451,881 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank Of Montreal Trading Up 0.2%

NYSE BMO opened at $130.48 on Thursday. The stock has a market cap of $93.28 billion, a PE ratio of 15.97, a PEG ratio of 1.32 and a beta of 1.02. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $131.36. The company's 50-day moving average price is $120.26 and its 200-day moving average price is $108.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $2.64 EPS. Equities research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 5.0%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's payout ratio is currently 58.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Cowen reissued a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Wall Street Zen lowered shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Scotiabank reissued a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Finally, UBS Group reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank Of Montreal currently has an average rating of "Moderate Buy" and an average target price of $168.00.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.