Nykredit A S Invests $26.63 Million in Bank Of Montreal $BMO

Key Points

• Nykredit A/S acquired 150,735 shares of Bank of Montreal in the second quarter, valued at approximately $26.63 million. Institutional investors collectively own 45.82% of BMO’s outstanding stock.
• Bank of Montreal exceeded quarterly expectations, reporting earnings of $2.84 per share versus the $2.71 consensus and revenue of $7.10 billion, up 10.1% year over year.
• The bank declared a quarterly dividend of $1.71 per share, or $6.84 annualized, representing a 3.9% yield. Analysts’ consensus rating is “Hold,” with an average price target of $163.

Nykredit A S acquired a new position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 150,735 shares of the bank's stock, valued at approximately $26,632,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMO. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Bank Of Montreal in the second quarter worth about $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the 4th quarter worth approximately $29,000. Western Wealth Management LLC bought a new position in Bank Of Montreal in the 1st quarter worth approximately $38,000. Larson Financial Group LLC grew its stake in Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock valued at $41,000 after buying an additional 79 shares in the last quarter. Finally, Highland Investment Advisors LLC bought a new stake in Bank Of Montreal during the 2nd quarter valued at $63,000. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Up 0.5%

BMO opened at $174.62 on Friday. The firm has a market capitalization of $121.38 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. Bank Of Montreal has a one year low of $119.84 and a one year high of $187.22. The company has a fifty day moving average price of $177.39 and a 200-day moving average price of $162.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.13. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. Equities research analysts expect that Bank Of Montreal will post 12.13 earnings per share for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is 54.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Tuesday, August 18th. Scotiabank reiterated an "outperform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Weiss Ratings cut Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. TD Securities restated a "buy" rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Finally, Desjardins reaffirmed a "hold" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada's largest banks and serves individuals, businesses, institutions and governments through operations in Canada and the United States.

BMO's personal and commercial banking businesses provide deposit accounts, mortgages, consumer lending, credit cards, investment products and financial planning services. The bank also offers commercial lending, treasury management and other banking solutions to businesses of various sizes.

Through BMO Wealth Management, the company provides investment management, private banking, financial planning and related advisory services.

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