Jupiter Topco LLC Invests $10.81 Million in Bank Of Montreal $BMO

Jupiter Topco LLC acquired a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 61,227 shares of the bank's stock, valued at approximately $10,806,000.

A number of other hedge funds have also recently bought and sold shares of BMO. Jefferies Financial Group Inc. increased its stake in shares of Bank Of Montreal by 6,300.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank's stock valued at $62,233,000 after acquiring an additional 472,000 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of Bank Of Montreal in the second quarter worth approximately $920,002,000. Tacita Capital Inc acquired a new stake in shares of Bank Of Montreal in the second quarter worth approximately $1,518,000. Andra AP fonden purchased a new stake in Bank Of Montreal in the first quarter valued at approximately $3,979,000. Finally, Deutsche Bank AG acquired a new position in Bank Of Montreal during the second quarter worth approximately $235,791,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of recent analyst reports. Desjardins reaffirmed a "hold" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Tuesday, August 18th. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Wednesday. Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a research report on Friday, August 21st. They issued an "outperform" rating on the stock. Finally, Weiss Ratings lowered Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $172.06 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $119.95 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.02 and a beta of 0.94. The firm's fifty day simple moving average is $177.93 and its 200 day simple moving average is $159.41. Bank Of Montreal has a twelve month low of $118.66 and a twelve month high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.62 EPS. As a group, equities research analysts expect that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Announces Dividend

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

Bank Of Montreal Company Profile

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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