Man Group plc Has $5.12 Million Stock Holdings in Bank of Montreal (NYSE:BMO)

Man Group plc grew its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 52.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,757 shares of the bank's stock after purchasing an additional 18,075 shares during the period. Man Group plc's holdings in Bank of Montreal were worth $5,120,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BMO. Valeo Financial Advisors LLC raised its holdings in shares of Bank of Montreal by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock worth $278,000 after acquiring an additional 125 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Bank of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock valued at $617,000 after buying an additional 125 shares in the last quarter. Caprock Group LLC raised its holdings in Bank of Montreal by 4.6% during the fourth quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock valued at $309,000 after buying an additional 139 shares in the last quarter. Rhumbline Advisers grew its position in shares of Bank of Montreal by 16.2% in the fourth quarter. Rhumbline Advisers now owns 1,049 shares of the bank's stock valued at $102,000 after purchasing an additional 146 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Bank of Montreal by 6.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,745 shares of the bank's stock valued at $266,000 after purchasing an additional 155 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Trading Up 0.3%

BMO stock traded up $0.26 during trading on Friday, hitting $103.90. The company had a trading volume of 554,398 shares, compared to its average volume of 849,417. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $96.36 and a 200-day moving average price of $97.42. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The stock has a market cap of $75.23 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the previous year, the company posted $2.56 EPS. Bank of Montreal's revenue was up 20.8% on a year-over-year basis. As a group, analysts predict that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. This represents a $4.44 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is presently 57.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMO shares. Scotiabank started coverage on Bank of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Cibc World Mkts downgraded Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. CIBC reissued a "neutral" rating on shares of Bank of Montreal in a research report on Tuesday. Royal Bank of Canada lifted their target price on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Wall Street Zen raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Bank of Montreal presently has a consensus rating of "Hold" and an average price target of $128.40.

About Bank of Montreal

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.