Triasima Portfolio Management inc. increased its stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 6,664.6% in the first quarter, Holdings Channel reports. The firm owned 143,072 shares of the bank’s stock after purchasing an additional 140,957 shares during the period. Bank Of Montreal comprises 2.7% of Triasima Portfolio Management inc.’s holdings, making the stock its 6th largest position. Triasima Portfolio Management inc.’s holdings in Bank Of Montreal were worth $13,661,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Bridgewater Advisors Inc. acquired a new stake in Bank Of Montreal in the 1st quarter worth approximately $274,000. First Business Financial Services Inc. acquired a new stake in Bank Of Montreal during the 1st quarter valued at approximately $238,000. SBI Securities Co. Ltd. lifted its stake in Bank Of Montreal by 23.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,845 shares of the bank’s stock valued at $176,000 after acquiring an additional 355 shares during the period. MQS Management LLC acquired a new stake in Bank Of Montreal during the 1st quarter valued at approximately $544,000. Finally, TruNorth Capital Management LLC lifted its stake in Bank Of Montreal by 405.0% during the 1st quarter. TruNorth Capital Management LLC now owns 505 shares of the bank’s stock valued at $48,000 after acquiring an additional 405 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
BMO has been the subject of several research reports. CIBC restated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Scotiabank initiated coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They set a “sector perform” rating for the company. Barclays cut shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 9th. Finally, Cibc World Mkts cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $129.50.
Bank Of Montreal Stock Down 0.8%
BMO stock opened at $112.64 on Wednesday. The firm has a market cap of $80.91 billion, a PE ratio of 14.61, a P/E/G ratio of 1.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $107.09 and its 200 day moving average is $100.68. Bank Of Montreal has a one year low of $76.98 and a one year high of $114.76.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $2.59 earnings per share. On average, research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.
Bank Of Montreal Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This represents a $4.72 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.11. Bank Of Montreal’s dividend payout ratio (DPR) is currently 57.33%.
Bank Of Montreal Company Profile
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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