FNY Investment Advisers LLC Invests $13.52 Million in Bank Of Montreal $BMO

Key Points

• FNY Investment Advisers LLC acquired 104,200 shares of Bank of Montreal in Q4 — about $13.52 million — making BMO its second-largest holding at roughly 3.8% of the fund's portfolio.
• In the latest quarter BMO beat estimates with EPS of $2.51 (vs. $2.35 expected) and revenue of $7.21 billion, and declared a quarterly dividend of $1.67 (annualized $6.68) for a ~4.9% yield.
• Street sentiment is mixed but favorable overall, with a consensus rating of "Moderate Buy" and an average target price of $163 (ratings include 2 Strong Buy, 3 Buy, 6 Hold, 1 Sell).

FNY Investment Advisers LLC acquired a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 104,200 shares of the bank's stock, valued at approximately $13,524,000. Bank Of Montreal accounts for about 3.8% of FNY Investment Advisers LLC's portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMO. Frank Rimerman Advisors LLC grew its holdings in Bank Of Montreal by 52.9% during the fourth quarter. Frank Rimerman Advisors LLC now owns 6,664 shares of the bank's stock valued at $865,000 after purchasing an additional 2,305 shares during the period. Avant Financial Advisors LLC raised its stake in shares of Bank Of Montreal by 100.0% in the fourth quarter. Avant Financial Advisors LLC now owns 4,160 shares of the bank's stock worth $540,000 after buying an additional 2,080 shares during the period. Rockland Trust Co. raised its stake in shares of Bank Of Montreal by 11.1% in the fourth quarter. Rockland Trust Co. now owns 3,243 shares of the bank's stock worth $421,000 after buying an additional 323 shares during the period. J. Safra Sarasin Holding AG purchased a new position in shares of Bank Of Montreal during the 4th quarter valued at about $201,000. Finally, Mn Services Vermogensbeheer B.V. grew its stake in shares of Bank Of Montreal by 16.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank's stock valued at $21,484,000 after acquiring an additional 23,113 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BMO shares. Jefferies Financial Group reissued a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. TD Securities raised shares of Bank Of Montreal from a "hold" rating to a "buy" rating in a report on Tuesday, January 27th. Raymond James Financial upgraded shares of Bank Of Montreal from a "market perform" rating to an "outperform" rating in a research report on Friday, February 13th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Finally, Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $163.00.

Bank Of Montreal Trading Down 0.6%

BMO stock opened at $136.25 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. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $149.01. The business has a 50 day simple moving average of $140.27 and a two-hundred day simple moving average of $132.45. The company has a market capitalization of $95.99 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.88 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The firm had revenue of $7.21 billion for the quarter, compared to analysts' expectations of $6.73 billion. During the same quarter last year, the business posted $3.04 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 4.9%. Bank Of Montreal's payout ratio is presently 56.56%.

Bank Of Montreal Company 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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