Northwestern Mutual Wealth Management Co. Invests $4.75 Million in Bank Of Montreal $BMO

Northwestern Mutual Wealth Management Co. acquired a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,886 shares of the bank's stock, valued at approximately $4,751,000.

A number of other institutional investors also recently modified their holdings of BMO. AQR Capital Management LLC increased its stake in Bank Of Montreal by 87.1% in the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank's stock valued at $548,000 after purchasing an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Bank Of Montreal during the 2nd quarter worth about $1,018,000. Cerity Partners LLC boosted its position in shares of Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank's stock worth $1,368,000 after purchasing an additional 167 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Bank Of Montreal by 166.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank's stock valued at $45,518,000 after buying an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank's stock valued at $310,000 after buying an additional 2,751 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

Shares of BMO opened at $174.34 on Monday. The firm has a market capitalization of $121.54 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.07 and a beta of 0.94. Bank Of Montreal has a 52 week low of $112.58 and a 52 week high of $187.22. The stock has a 50 day moving average price of $177.66 and a two-hundred day moving average price of $158.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.62 earnings per share. Equities analysts forecast that Bank Of Montreal will post 10.49 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 3.9%. Bank Of Montreal's dividend payout ratio (DPR) is 51.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BMO shares. Zacks Research downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Weiss Ratings lowered Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Barclays reissued an "underweight" rating on shares of Bank Of Montreal in a research report on Friday. Finally, Raymond James Financial restated an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Five 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 an average rating of "Hold" and an average price target of $163.00.

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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