Nykredit A S Invests $31.01 Million in Bank Of Montreal $BMO

Key Points

• Nykredit A/S purchased 175,516 Bank of Montreal shares worth approximately $31.01 million in the second quarter. Institutional investors now own 45.82% of BMO’s outstanding stock.
• Bank of Montreal reported quarterly EPS of $2.84, beating estimates of $2.71, while revenue reached $7.10 billion, up 10.1% year over year.
• BMO declared a quarterly dividend of $1.71 per share, equivalent to an annualized $6.84 payout and a 3.9% yield. Analysts have a consensus “Hold” rating with an average price target of $163.

Nykredit A S purchased a new stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 175,516 shares of the bank's stock, valued at approximately $31,011,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jefferies Financial Group Inc. lifted its holdings in shares of Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank's stock worth $62,233,000 after buying an additional 472,000 shares in the last quarter. Bank of Nova Scotia purchased a new position in Bank Of Montreal during the second quarter valued at approximately $920,002,000. Tacita Capital Inc bought a new stake in Bank Of Montreal during the 2nd quarter worth approximately $1,518,000. Andra AP fonden bought a new stake in Bank Of Montreal during the 1st quarter worth approximately $3,979,000. Finally, Deutsche Bank AG purchased a new stake in Bank Of Montreal in the 2nd quarter worth approximately $235,791,000. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BMO shares. Canadian Imperial Bank of Commerce downgraded shares of Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Tuesday, August 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Thursday, August 27th. TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research note on Friday, August 21st. They set an "outperform" rating for the company. Finally, Weiss Ratings cut Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Trading Up 2.3%

Shares of BMO opened at $176.76 on Friday. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22. The company has a market capitalization of $123.23 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50 day simple moving average is $177.83 and its 200 day simple moving average is $160.34.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.13. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 EPS. Sell-side analysts forecast that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be issued 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 of this dividend is Friday, October 30th. Bank Of Montreal's payout ratio is currently 54.29%.

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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