Usca Ria LLC bought a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 400 shares of the bank’s stock, valued at approximately $30,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARS Investment Partners LLC bought a new stake in shares of Bank of Montreal in the 2nd quarter worth $473,000. Bank of Nova Scotia Trust Co. grew its position in Bank of Montreal by 1.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 642,250 shares of the bank’s stock valued at $48,458,000 after buying an additional 9,479 shares during the period. Scotia Capital Inc. grew its position in Bank of Montreal by 1.7% during the second quarter. Scotia Capital Inc. now owns 2,162,495 shares of the bank’s stock valued at $162,968,000 after buying an additional 35,289 shares during the period. Paloma Partners Management Co grew its position in Bank of Montreal by 100.1% during the second quarter. Paloma Partners Management Co now owns 12,711 shares of the bank’s stock valued at $959,000 after buying an additional 6,358 shares during the period. Finally, Pinnacle Financial Partners Inc. grew its position in Bank of Montreal by 1.2% during the second quarter. Pinnacle Financial Partners Inc. now owns 44,051 shares of the bank’s stock valued at $3,324,000 after buying an additional 513 shares during the period. Hedge funds and other institutional investors own 41.17% of the company’s stock.
BMO traded down $0.17 during trading on Friday, hitting $76.08. 218,839 shares of the company traded hands, compared to its average volume of 510,747. The firm has a market cap of $48.57 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The stock’s fifty day moving average is $73.78 and its 200 day moving average is $74.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Bank of Montreal has a one year low of $62.79 and a one year high of $79.35.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.82 billion. Bank of Montreal had a return on equity of 14.14% and a net margin of 16.48%. Bank of Montreal’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. On average, equities research analysts forecast that Bank of Montreal will post 7.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 1st will be given a dividend of $0.781 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, October 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.77. Bank of Montreal’s dividend payout ratio (DPR) is currently 44.78%.
Several research firms recently weighed in on BMO. Scotiabank restated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, August 20th. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating and set a $86.00 price target for the company in a research report on Tuesday, October 29th. Credit Suisse Group upgraded shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a research report on Friday, September 6th. ValuEngine upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Desjardins restated a “hold” rating and set a $105.00 price target on shares of Bank of Montreal in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Bank of Montreal currently has an average rating of “Hold” and a consensus target price of $98.25.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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