The Manufacturers Life Insurance Company Decreases Stock Holdings in Bank Of Montreal $BMO

The Manufacturers Life Insurance Company reduced its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 13.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,434,845 shares of the bank’s stock after selling 369,898 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bank Of Montreal were worth $329,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. boosted its holdings in shares of Bank Of Montreal by 6,300.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after purchasing an additional 472,000 shares during the period. Andra AP fonden bought a new stake in shares of Bank Of Montreal in the first quarter worth about $3,979,000. Vanguard Group Inc. increased its holdings in Bank Of Montreal by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after purchasing an additional 673,248 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in Bank Of Montreal by 16.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock valued at $21,484,000 after purchasing an additional 23,113 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Bank Of Montreal by 2,127.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock valued at $45,387,000 after purchasing an additional 333,994 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Price Performance

Shares of BMO opened at $178.47 on Tuesday. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The firm’s 50-day simple moving average is $171.01 and its two-hundred day simple moving average is $152.48. The stock has a market cap of $125.00 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same period last year, the business earned $2.62 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate 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. Investors of record on Thursday, July 30th will be given a dividend of $1.71 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. Bank Of Montreal’s dividend payout ratio is 51.06%.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent analyst reports. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal 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.