Kovitz Investment Group Partners LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,319 shares of the bank's stock, valued at approximately $322,000.
A number of other hedge funds have also recently modified their holdings of BMO. IFP Advisors Inc raised its position in Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC lifted its stake in shares of Bank of Montreal by 282.8% in the 4th 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 Bank of Montreal during the fourth quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal during the third quarter valued at $45,000. Finally, First Horizon Advisors Inc. increased its holdings in Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after buying an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.
Bank of Montreal Price Performance
Bank of Montreal stock opened at $97.62 on Friday. The company has a fifty day simple moving average of $95.63 and a 200-day simple moving average of $96.48. The firm has a market capitalization of $70.68 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.43 and a beta of 0.95. 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 has a 52-week low of $76.98 and a 52-week high of $106.00.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the prior year, the company earned $2.56 EPS. Bank of Montreal's revenue was up 20.8% compared to the same quarter last year. On average, equities analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.
Bank of Montreal Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.55%. Bank of Montreal's payout ratio is 57.35%.
Wall Street Analysts Forecast Growth
BMO has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC downgraded shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. Finally, Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of "Hold" and a consensus price target of $128.40.
View Our Latest Analysis on BMO
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.
See Also
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