MQS Management LLC Invests $575,000 in Bank Of Montreal $BMO

MQS Management LLC acquired a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,432 shares of the bank’s stock, valued at approximately $575,000.

Several other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Bank Of Montreal by 10.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,666 shares of the bank’s stock valued at $476,000 after acquiring an additional 353 shares in the last quarter. Cumberland Partners Ltd grew its stake in Bank Of Montreal by 89.6% during the fourth quarter. Cumberland Partners Ltd now owns 41,008 shares of the bank’s stock valued at $5,329,000 after acquiring an additional 19,381 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in Bank Of Montreal during the fourth quarter valued at approximately $107,000. Keudell Morrison Wealth Management purchased a new position in Bank Of Montreal during the fourth quarter valued at approximately $348,000. Finally, Global Retirement Partners LLC grew its stake in Bank Of Montreal by 28.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,923 shares of the bank’s stock valued at $250,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BMO. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

BMO stock opened at $161.10 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a one year low of $102.70 and a one year high of $161.55. The stock has a market cap of $112.91 billion, a PE ratio of 18.71, a P/E/G ratio of 0.90 and a beta of 0.94. The firm has a 50 day simple moving average of $145.72 and a two-hundred day simple moving average of $137.81.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Bank Of Montreal will post 11.56 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s payout ratio is currently 55.75%.

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.