Good Steward Wealth Advisors LLC Invests $256,000 in Bank Of Montreal (NYSE:BMO)

Good Steward Wealth Advisors LLC purchased a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,679 shares of the bank's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Bank Of Montreal in the fourth quarter worth $1,014,633,000. The Manufacturers Life Insurance Company increased its holdings in shares of Bank Of Montreal by 42.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock valued at $664,742,000 after acquiring an additional 2,044,862 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Bank Of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after purchasing an additional 1,630,962 shares during the last quarter. Federated Hermes Inc. boosted its stake in Bank Of Montreal by 1,527.7% in the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock worth $112,626,000 after purchasing an additional 1,089,199 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Bank Of Montreal by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock worth $1,244,284,000 after purchasing an additional 1,020,712 shares in the last quarter. Institutional investors own 45.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Bank Of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Scotiabank initiated coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Cibc World Mkts lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Trading Down 0.0%

Shares of BMO stock opened at $106.20 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Bank Of Montreal has a 12-month low of $76.98 and a 12-month high of $109.10. The stock has a market capitalization of $76.69 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.17 and a beta of 1.08. The firm's 50 day moving average is $101.26 and its 200 day moving average is $99.09.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. Research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a $1.1801 dividend. This represents a $4.72 annualized dividend and a yield of 4.44%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 57.33%.

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.

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