International Assets Investment Management LLC Makes New $612,000 Investment in Bank Of Montreal $BMO

International Assets Investment Management LLC acquired a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 585,236 shares of the bank’s stock, valued at approximately $612,000.

Several other large investors have also modified their holdings of BMO. Goldman Sachs Group Inc. lifted its stake in shares of Bank Of Montreal by 213.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock valued at $406,825,000 after purchasing an additional 2,899,061 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Bank Of Montreal by 66.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock valued at $351,154,000 after purchasing an additional 1,469,084 shares during the last quarter. Nuveen LLC acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at $52,070,000. Vanguard Group Inc. lifted its stake in shares of Bank Of Montreal by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank’s stock valued at $2,960,102,000 after purchasing an additional 503,027 shares during the last quarter. Finally, Value Partners Investments Inc. lifted its stake in shares of Bank Of Montreal by 803.3% in the 1st quarter. Value Partners Investments Inc. now owns 508,135 shares of the bank’s stock valued at $48,573,000 after purchasing an additional 451,881 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO stock opened at $125.37 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $89.62 billion, a PE ratio of 15.34, a P/E/G ratio of 1.28 and a beta of 1.03. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.36. The business’s fifty day moving average price is $124.34 and its 200 day moving average price is $111.62.

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 (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.21. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.64 EPS. On average, sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company 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 is Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 5.2%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is presently 58.63%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BMO shares. Cowen reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. National Bankshares reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. One research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.