OMERS ADMINISTRATION Corp Invests $217.45 Million in Bank Of Montreal $BMO

OMERS ADMINISTRATION Corp bought a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, Holdings Channel reports. The fund bought 1,230,715 shares of the bank’s stock, valued at approximately $217,447,000. Bank Of Montreal makes up approximately 1.3% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 19th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Bank Of Montreal in the 4th quarter worth $1,059,320,000. Bank of Nova Scotia purchased a new position in Bank Of Montreal during the second quarter valued at $920,002,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bank Of Montreal during the second quarter valued at $677,074,000. Morgan Stanley grew its position in shares of Bank Of Montreal by 74.4% in the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock valued at $495,461,000 after purchasing an additional 1,628,318 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Bank Of Montreal during the second quarter worth about $235,791,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $174.34 on Monday. The firm has a 50-day simple moving average of $177.66 and a 200-day simple moving average of $158.42. The stock has a market capitalization of $121.54 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52 week low of $112.58 and a 52 week high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.62 earnings per share. On average, equities analysts predict that Bank Of Montreal will post 10.49 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a $1.71 dividend. This is a positive change 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 3.9%. Bank Of Montreal’s dividend payout ratio is 51.06%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMO. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research report on Friday. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.