Jefferies Financial Group Inc. Acquires New Position in Bank Of Montreal $BMO

Jefferies Financial Group Inc. bought a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,492 shares of the bank's stock, valued at approximately $1,324,000.

Several other institutional investors and hedge funds have also modified their holdings of BMO. AQR Capital Management LLC lifted its holdings in shares of Bank Of Montreal by 87.1% in the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank's stock worth $548,000 after acquiring an additional 2,673 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Bank Of Montreal in the 2nd quarter valued at $1,018,000. Cerity Partners LLC boosted its holdings in shares of Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank's stock valued at $1,368,000 after acquiring an additional 167 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank's stock worth $45,518,000 after acquiring an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Bank Of Montreal by 5,614.3% in the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank's stock valued at $310,000 after purchasing an additional 2,751 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $172.06 on Friday. The company has a market capitalization of $119.95 billion, a PE ratio of 19.42, a P/E/G ratio of 1.02 and a beta of 0.94. The company has a 50 day simple moving average of $177.93 and a two-hundred day simple moving average of $159.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.01. Bank Of Montreal has a fifty-two week low of $118.66 and a fifty-two week high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the previous year, the company earned $2.62 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts anticipate that Bank Of Montreal will post 10.76 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is currently 54.29%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BMO. Raymond James Financial reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a report on Friday, August 21st. They set an "outperform" rating on the stock. Desjardins restated a "hold" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Wednesday. Finally, Barclays reissued an "underweight" rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bank Of Montreal currently has an average rating of "Hold" and a consensus target price of $163.00.

About Bank Of Montreal

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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