8,212,584 Shares in Bank of Montreal (NYSE:BMO) Acquired by Norges Bank

Norges Bank purchased a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,212,584 shares of the bank's stock, valued at approximately $812,644,000. Norges Bank owned 1.13% of Bank of Montreal at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BMO. EverSource Wealth Advisors LLC boosted its stake in Bank of Montreal by 192.1% during the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank's stock valued at $28,000 after buying an additional 219 shares during the period. Principal Securities Inc. purchased a new position in shares of Bank of Montreal during the fourth quarter worth about $33,000. Cullen Frost Bankers Inc. increased its position in shares of Bank of Montreal by 3,375.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank's stock worth $41,000 after purchasing an additional 405 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Bank of Montreal in the fourth quarter valued at approximately $44,000. Finally, IAG Wealth Partners LLC lifted its position in Bank of Montreal by 117.5% during the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank's stock valued at $49,000 after purchasing an additional 268 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Up 0.8 %

NYSE:BMO traded up $0.77 during trading hours on Friday, reaching $95.22. The company's stock had a trading volume of 652,575 shares, compared to its average volume of 988,159. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $69.44 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.84 and a beta of 1.13. The firm has a 50-day simple moving average of $94.12 and a 200-day simple moving average of $91.82. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. Research analysts expect that Bank of Montreal will post 8.38 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a dividend of $1.1172 per share. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio is 85.31%.

Analysts Set New Price Targets

BMO has been the topic of a number of research analyst reports. Barclays assumed coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They issued an "overweight" rating on the stock. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, March 3rd. Finally, Jefferies Financial Group assumed coverage on Bank of Montreal in a research report on Thursday, February 22nd. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Bank of Montreal currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.00.

About Bank of Montreal

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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