Code Waechter LLC Acquires 1,600 Shares of Bank Of Montreal $BMO

Code Waechter LLC increased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 54.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,552 shares of the bank’s stock after acquiring an additional 1,600 shares during the quarter. Code Waechter LLC’s holdings in Bank Of Montreal were worth $504,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BMO. Private Trust Co. NA boosted its position in shares of Bank Of Montreal by 28.3% in the first quarter. Private Trust Co. NA now owns 1,101 shares of the bank’s stock valued at $105,000 after acquiring an additional 243 shares during the period. Wayfinding Financial LLC bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $44,000. Bank of New York Mellon Corp boosted its position in shares of Bank Of Montreal by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 746,613 shares of the bank’s stock valued at $71,309,000 after acquiring an additional 37,846 shares during the period. HM Payson & Co. bought a new position in shares of Bank Of Montreal in the first quarter valued at approximately $42,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Bank Of Montreal by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 464,123 shares of the bank’s stock valued at $44,328,000 after acquiring an additional 3,403 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. National Bankshares restated an “outperform” rating on shares of Bank Of Montreal in a research report on Friday, August 15th. CIBC raised shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Finally, Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Trading Up 0.5%

Shares of Bank Of Montreal stock opened at $124.81 on Tuesday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36. The firm has a market cap of $88.91 billion, a PE ratio of 15.28, a PEG ratio of 1.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day simple moving average of $126.53 and a two-hundred day simple moving average of $114.13.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same period in the previous year, the business posted $2.64 earnings per share. Bank Of Montreal’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Thursday, October 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is presently 58.02%.

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.