JCIC Asset Management Inc. Buys New Shares in Bank Of Montreal (NYSE:BMO)

JCIC Asset Management Inc. bought a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,348 shares of the bank's stock, valued at approximately $606,000.

Other institutional investors have also added to or reduced their stakes in the company. North Star Asset Management Inc. boosted its position in Bank Of Montreal by 1.2% during the fourth quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock valued at $817,000 after buying an additional 100 shares during the period. Oppenheimer & Co. Inc. boosted its position in Bank Of Montreal by 2.6% during the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock valued at $451,000 after buying an additional 120 shares during the period. Wealthspire Advisors LLC boosted its position in Bank Of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock valued at $617,000 after buying an additional 125 shares during the period. Rhumbline Advisers boosted its position in Bank Of Montreal by 16.2% during the fourth quarter. Rhumbline Advisers now owns 1,049 shares of the bank's stock valued at $102,000 after buying an additional 146 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Bank Of Montreal by 6.0% during the fourth quarter. Lindbrook Capital LLC now owns 2,745 shares of the bank's stock valued at $266,000 after buying an additional 155 shares during the period. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMO. Royal Bank Of Canada upped their price target on shares of Bank Of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank began coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Cibc World Mkts lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $129.50.

Bank Of Montreal Stock Performance

Shares of BMO opened at $106.69 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a one year low of $76.98 and a one year high of $109.10. The company has a 50-day simple moving average of $102.08 and a two-hundred day simple moving average of $99.25. The firm has a market capitalization of $77.04 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.

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

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.42%. Bank Of Montreal's dividend payout ratio (DPR) is currently 57.33%.

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.

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