Korea Investment CORP Takes $72.27 Million Position in Bank Of Montreal $BMO

Korea Investment CORP purchased a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 409,037 shares of the bank's stock, valued at approximately $72,270,000. Korea Investment CORP owned 0.06% of Bank Of Montreal at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BMO. EP Wealth Advisors LLC acquired a new stake in Bank Of Montreal during the second quarter valued at $349,000. Ieq Capital LLC purchased a new position in Bank Of Montreal in the second quarter valued at about $1,524,000. Callan Family Office LLC acquired a new position in Bank Of Montreal in the 2nd quarter worth about $1,380,000. Fund Advisors of America Inc FL acquired a new position in Bank Of Montreal in the 2nd quarter worth about $386,000. Finally, OneAscent Family Office LLC purchased a new stake in shares of Bank Of Montreal during the 2nd quarter worth about $359,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

BMO has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a report on Friday. They issued an "outperform" rating for the company. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Zacks Research lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce cut Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $163.00.

Bank Of Montreal Price Performance

Shares of Bank Of Montreal stock opened at $174.34 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $121.54 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. The firm has a fifty day moving average price of $177.66 and a two-hundred day moving average price of $158.29. Bank Of Montreal has a fifty-two week low of $112.58 and a fifty-two week high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.62 EPS. Analysts expect that Bank Of Montreal will post 10.54 EPS for the current year.

Bank Of Montreal Increases Dividend

The company 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 dividend of $1.71 per share. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal's dividend payout ratio is presently 51.06%.

Bank Of Montreal 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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