State of Wyoming purchased a new position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,225 shares of the bank's stock, valued at approximately $410,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Valeo Financial Advisors LLC lifted its position in shares of Bank of Montreal by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock valued at $278,000 after buying an additional 125 shares in the last quarter. Wealthspire Advisors LLC raised its stake in Bank of Montreal by 2.0% during the 4th quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock worth $617,000 after acquiring an additional 125 shares during the period. Caprock Group LLC lifted 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 purchasing an additional 139 shares in the last quarter. Rhumbline Advisers lifted its holdings in Bank of Montreal by 16.2% during 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 in the last quarter. Finally, Lindbrook Capital LLC boosted 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 worth $266,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 45.82% of the company's stock.
Bank of Montreal Price Performance
BMO stock traded up $0.26 during mid-day trading on Monday, 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 50-day moving average price of $96.36 and a 200 day moving average price of $97.45. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $106.00. The company has a market capitalization of $75.23 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.43 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The firm had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The business's revenue was up 20.8% compared to the same quarter last year. On average, research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current year.
Bank of Montreal Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.27%. Bank of Montreal's dividend payout ratio (DPR) is 57.35%.
Wall Street Analysts Forecast Growth
BMO has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC reiterated a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Royal Bank of Canada raised their price target on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Scotiabank began coverage on Bank of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Cibc World Mkts lowered Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $128.40.
Read Our Latest Stock Analysis on Bank of Montreal
Bank of Montreal Company Profile
(
Free Report)
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.
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