Summerhill Capital Management lnc. Takes $393,000 Position in Bank Of Montreal $BMO

Summerhill Capital Management lnc. acquired a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,907 shares of the bank’s stock, valued at approximately $393,000. Bank Of Montreal makes up 0.3% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Union Bancaire Privee UBP SA increased its stake in Bank Of Montreal by 0.8% during the 1st quarter. Union Bancaire Privee UBP SA now owns 14,987 shares of the bank’s stock valued at $1,976,000 after buying an additional 125 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Bank Of Montreal by 16.3% in the 1st quarter. Ritholtz Wealth Management now owns 18,095 shares of the bank’s stock worth $2,449,000 after acquiring an additional 2,542 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Bank Of Montreal by 0.5% in the first quarter. Assenagon Asset Management S.A. now owns 21,852 shares of the bank’s stock valued at $2,950,000 after acquiring an additional 117 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of Bank Of Montreal by 513.3% in the first quarter. Cidel Asset Management Inc. now owns 130,608 shares of the bank’s stock valued at $17,634,000 after acquiring an additional 109,313 shares in the last quarter. Finally, Hanson & Doremus Investment Management acquired a new position in shares of Bank Of Montreal during the first quarter valued at approximately $135,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Ratings Changes

BMO has been the topic of several recent analyst reports. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.2%

BMO stock opened at $175.24 on Friday. Bank Of Montreal has a 12 month low of $108.53 and a 12 month high of $175.54. The firm has a market cap of $122.74 billion, a PE ratio of 18.60, a P/E/G ratio of 0.98 and a beta of 0.95. The firm has a 50 day simple moving average of $160.04 and a 200 day simple moving average of $145.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $2.62 earnings per share. Equities research analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is 50.96%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.