Assetmark Inc. Acquires 1,635 Shares of Bank Of Montreal $BMO

Assetmark Inc. raised its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,722 shares of the bank’s stock after purchasing an additional 1,635 shares during the quarter. Assetmark Inc.’s holdings in Bank Of Montreal were worth $1,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Bank Of Montreal by 1.6% in the first quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank’s stock valued at $2,960,102,000 after buying an additional 503,027 shares during the period. Goldman Sachs Group Inc. raised its stake in Bank Of Montreal by 213.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock valued at $406,825,000 after buying an additional 2,899,061 shares during the period. JPMorgan Chase & Co. raised its stake in Bank Of Montreal by 8.3% in the first quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank’s stock valued at $376,165,000 after buying an additional 303,496 shares during the period. Fiera Capital Corp increased its stake in shares of Bank Of Montreal by 4.4% during the first quarter. Fiera Capital Corp now owns 3,864,901 shares of the bank’s stock worth $369,445,000 after purchasing an additional 163,087 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after purchasing an additional 1,469,084 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $122.53 on Wednesday. The stock’s fifty day moving average price is $126.60 and its two-hundred day moving average price is $114.33. Bank Of Montreal has a one year low of $85.40 and a one year high of $131.36. 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 firm has a market cap of $87.29 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.28 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same quarter last year, the company earned $2.64 EPS. The company’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.63 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.3%. Bank Of Montreal’s dividend payout ratio is 58.02%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal 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.