NorthRock Partners LLC bought a new position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,941 shares of the bank's stock, valued at approximately $1,741,000.
Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Bank of Montreal by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock valued at $2,960,491,000 after purchasing an additional 576,744 shares during the last quarter. TD Asset Management Inc. boosted its position in Bank of Montreal by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank's stock valued at $1,709,215,000 after buying an additional 486,984 shares in the last quarter. Norges Bank bought a new stake in shares of Bank of Montreal during the fourth quarter worth $1,014,633,000. The Manufacturers Life Insurance Company grew its stake in shares of Bank of Montreal by 42.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after buying an additional 2,044,862 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd increased its holdings in shares of Bank of Montreal by 6.8% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 6,711,773 shares of the bank's stock worth $651,250,000 after buying an additional 426,442 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.
Bank of Montreal Trading Down 0.0%
Shares of BMO traded down $0.02 during mid-day trading on Friday, reaching $102.78. 1,555,415 shares of the company were exchanged, compared to its average volume of 854,296. The business has a 50 day simple moving average of $95.69 and a two-hundred day simple moving average of $97.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $74.42 billion, a PE ratio of 14.73, a PEG ratio of 1.43 and a beta of 1.03. 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 issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the company earned $2.56 EPS. The company's revenue for the quarter was up 20.8% on a year-over-year basis. On average, analysts predict that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.
Bank of Montreal Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders 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 4.32%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.35%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on BMO shares. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Scotiabank initiated coverage on Bank of Montreal in a research note on Thursday. They set a "sector perform" rating on the stock. CIBC cut Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Royal Bank of Canada boosted their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $128.40.
Check Out Our Latest Stock Analysis on BMO
About Bank of Montreal
(
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.
Featured Stories
Before you consider Bank of Montreal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Montreal wasn't on the list.
While Bank of Montreal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
