Public Employees Retirement System of Ohio Invests $6.72 Million in Bank of Montreal (NYSE:BMO)

Public Employees Retirement System of Ohio bought a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 69,232 shares of the bank's stock, valued at approximately $6,719,000.

A number of other hedge funds have also made changes to their positions in the business. IFP Advisors Inc raised its position in Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC raised its position in Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after purchasing an additional 246 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Dunhill Financial LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after buying an additional 358 shares during the period. Hedge funds and other institutional investors own 45.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BMO shares. CIBC reiterated a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Scotiabank assumed coverage on shares of Bank of Montreal in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Royal Bank of Canada lifted their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note 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. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $128.40.

Bank of Montreal Stock Up 0.4%

Bank of Montreal stock traded up $0.43 during midday trading on Friday, hitting $107.41. The stock had a trading volume of 461,479 shares, compared to its average volume of 838,201. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market cap of $77.56 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.43 and a beta of 1.03. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $108.38. The business has a fifty day moving average price of $97.00 and a 200 day moving average price of $97.73.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released 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. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts predict that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, July 30th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio is currently 58.75%.

Bank of Montreal Company Profile

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.