Sagespring Wealth Partners LLC Makes New Investment in Bank Of Montreal $BMO

Sagespring Wealth Partners LLC acquired a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,964 shares of the bank’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its holdings in Bank Of Montreal by 12.5% in the second quarter. Sequoia Financial Advisors LLC now owns 4,272 shares of the bank’s stock worth $473,000 after purchasing an additional 475 shares during the period. Yousif Capital Management LLC boosted its holdings in Bank Of Montreal by 7.4% in the second quarter. Yousif Capital Management LLC now owns 10,301 shares of the bank’s stock worth $1,140,000 after purchasing an additional 710 shares during the period. Riverpoint Wealth Management Holdings LLC acquired a new position in Bank Of Montreal in the second quarter worth $230,000. Apollon Wealth Management LLC acquired a new position in Bank Of Montreal in the second quarter worth $222,000. Finally, PDS Planning Inc boosted its holdings in Bank Of Montreal by 6.9% in the second quarter. PDS Planning Inc now owns 4,335 shares of the bank’s stock worth $480,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a report on Wednesday, October 8th. Cibc World Mkts raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. Finally, CIBC raised shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Stock Performance

BMO stock opened at $124.96 on Friday. The company has a market capitalization of $89.33 billion, a P/E ratio of 15.29, a PEG ratio of 1.27 and a beta of 1.03. The company has a 50-day simple moving average of $123.84 and a 200 day simple moving average of $111.16. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 earnings per share. Sell-side analysts predict that Bank Of Montreal will post 7.71 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, November 26th. Investors of record on Thursday, October 30th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a yield of 5.2%. Bank Of Montreal’s dividend payout ratio is currently 58.63%.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.