JCIC Asset Management Inc. Invests $606,000 in Bank Of Montreal (NYSE:BMO)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Bank Of Montreal by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock valued at $2,960,491,000 after buying an additional 576,744 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Bank Of Montreal by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank's stock worth $1,709,215,000 after purchasing an additional 486,984 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Bank Of Montreal by 8.6% during the fourth 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 during the period. Mackenzie Financial Corp boosted its holdings in shares of 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 purchasing an additional 1,630,962 shares during the period. Finally, Norges Bank purchased a new stake in shares of Bank Of Montreal during the fourth quarter worth about $1,014,633,000. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Stock Down 0.0%

BMO traded down $0.04 on Friday, hitting $109.06. The company had a trading volume of 610,568 shares, compared to its average volume of 826,028. 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 52-week low of $76.98 and a 52-week high of $109.83. The stock has a fifty day simple moving average of $102.99 and a 200-day simple moving average of $99.41. The firm has a market capitalization of $78.55 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.20 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. As a group, equities analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be given a $1.1801 dividend. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal's payout ratio is currently 57.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMO. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. 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. Scotiabank began coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They set a "sector perform" rating for the company. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Bank Of Montreal presently has a consensus rating of "Hold" and an average target price of $129.50.

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.