PNC Financial Services Group Inc. Has $3.19 Million Holdings in Bank Of Montreal $BMO

PNC Financial Services Group Inc. decreased its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 12.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,606 shares of the bank’s stock after selling 3,446 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank Of Montreal were worth $3,195,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bank Of Montreal by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after acquiring an additional 673,248 shares during the last quarter. TD Asset Management Inc lifted its holdings in Bank Of Montreal by 1.5% during the 4th quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock valued at $2,519,180,000 after purchasing an additional 293,575 shares during the last quarter. FIL Ltd lifted its holdings in Bank Of Montreal by 15.2% during the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after purchasing an additional 1,245,500 shares during the last quarter. Norges Bank bought a new position in Bank Of Montreal during the fourth quarter worth $1,059,320,000. Finally, Geode Capital Management LLC boosted its position in Bank Of Montreal by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after purchasing an additional 442,812 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Stock Up 1.2%

BMO opened at $180.65 on Wednesday. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $126.53 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.00 and a beta of 0.93. The stock has a fifty day moving average of $171.55 and a 200-day moving average of $152.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 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 business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the prior year, the company posted $2.62 earnings per share. Bank Of Montreal’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a $1.71 dividend. 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%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is presently 50.96%.

Wall Street Analyst Weigh In

BMO has been the topic of several research analyst reports. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $163.00.

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.