Heck Capital Advisors LLC Invests $346,000 in Bank of Montreal (NYSE:BMO)

Heck Capital Advisors LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,570 shares of the bank's stock, valued at approximately $346,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at about $1,014,633,000. The Manufacturers Life Insurance Company increased its stake in 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 worth $664,742,000 after acquiring an additional 2,044,862 shares during the last quarter. Mackenzie Financial Corp increased its stake in Bank of Montreal by 15.4% during the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after acquiring an additional 1,630,962 shares during the last quarter. Federated Hermes Inc. raised its position in Bank of Montreal by 1,527.7% during the fourth quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock valued at $112,626,000 after purchasing an additional 1,089,199 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Bank of Montreal by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the last quarter. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

BMO has been the topic of several analyst reports. CIBC reissued a "neutral" rating on shares of Bank of Montreal in a research report on Tuesday, May 20th. Scotiabank initiated coverage on shares of Bank of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Royal Bank of Canada lifted their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $128.40.

Bank of Montreal Trading Up 0.7%

Bank of Montreal stock traded up $0.73 during trading hours on Thursday, hitting $107.02. The company had a trading volume of 951,953 shares, compared to its average volume of 849,612. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $77.49 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.43 and a beta of 1.03. The company has a 50-day moving average price of $96.80 and a two-hundred day moving average price of $97.64. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $108.38.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. The company 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 10.18% and a net margin of 9.22%. Bank of Montreal's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. On average, sell-side analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.41%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio (DPR) is currently 57.35%.

Bank of Montreal Profile

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.