United Capital Financial Advisors LLC Acquires New Stake in Bank Of Montreal $BMO

United Capital Financial Advisors LLC bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,325 shares of the bank’s stock, valued at approximately $588,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after acquiring an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Bank Of Montreal during the second quarter valued at about $1,018,000. Cerity Partners LLC lifted its holdings in Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock valued at $1,368,000 after purchasing an additional 167 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Bank Of Montreal by 166.3% during the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after purchasing an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Bank Of Montreal by 5,614.3% in the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock worth $310,000 after purchasing an additional 2,751 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $170.39 on Tuesday. The stock has a market cap of $118.79 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.02 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $177.88 and a 200 day simple moving average of $159.69. Bank Of Montreal has a 52 week low of $118.66 and a 52 week high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, October 30th. This represents a $6.84 annualized dividend and a yield of 4.0%. Bank Of Montreal’s payout ratio is presently 54.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Canadian Imperial Bank of Commerce cut shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, August 18th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus 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.