K.J. Harrison & Partners Inc bought a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 46,708 shares of the bank's stock, valued at approximately $8,239,000. Bank Of Montreal makes up approximately 1.2% of K.J. Harrison & Partners Inc's portfolio, making the stock its 22nd biggest holding.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BMO. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal during the fourth quarter worth approximately $29,000. Larson Financial Group LLC boosted its stake in Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank's stock worth $31,000 after purchasing an additional 196 shares during the period. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the second quarter worth about $28,000. Western Wealth Management LLC acquired a new stake in Bank Of Montreal during the 1st quarter worth approximately $38,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth $38,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Bank Of Montreal Stock Down 0.2%
Shares of NYSE:BMO opened at $185.44 on Tuesday. Bank Of Montreal has a 52-week low of $112.21 and a 52-week high of $187.22. The company has a market capitalization of $129.28 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $176.84 and a two-hundred day moving average of $157.37.
Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the previous year, the business posted $2.62 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Bank Of Montreal will post 11.86 earnings per share for the current fiscal year.
Bank Of Montreal Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal's payout ratio is presently 51.06%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BMO. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Zacks Research cut Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Desjardins reaffirmed a "hold" rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bank Of Montreal presently has an average rating of "Hold" and an average target price of $163.00.
Read Our Latest Analysis on Bank Of Montreal
About Bank Of Montreal
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO.
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