Mackenzie Financial Corp trimmed its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 16.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,169,333 shares of the bank's stock after selling 2,046,295 shares during the quarter. Bank Of Montreal makes up approximately 1.4% of Mackenzie Financial Corp's portfolio, making the stock its 9th largest position. Mackenzie Financial Corp owned approximately 1.40% of Bank Of Montreal worth $971,072,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in BMO. The Manufacturers Life Insurance Company lifted its stake in Bank Of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after acquiring an additional 2,044,862 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Bank Of Montreal by 1,527.7% in the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock valued at $112,626,000 after purchasing an additional 1,089,199 shares during the period. Toronto Dominion Bank lifted its position in shares of Bank Of Montreal by 8.6% in 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bank Of Montreal by 29.4% during the fourth quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank's stock worth $422,450,000 after purchasing an additional 975,777 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth approximately $48,353,000. 45.82% of the stock is owned by hedge funds and other institutional investors.
Bank Of Montreal Stock Up 0.3%
BMO stock opened at $114.45 on Monday. The firm has a market cap of $82.21 billion, a PE ratio of 14.84, a PEG ratio of 1.26 and a beta of 1.07. Bank Of Montreal has a 1 year low of $76.98 and a 1 year high of $115.66. The company has a fifty day simple moving average of $109.24 and a 200 day simple moving average of $101.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.
Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The business's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. Sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.
Bank Of Montreal Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a yield of 4.12%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is presently 57.33%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Cibc World Mkts lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Scotiabank started coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has an average rating of "Hold" and an average target price of $129.50.
View Our Latest Report on BMO
About Bank Of Montreal
(
Free Report)
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.
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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