Jarislowsky Fraser Ltd Purchases 10,272 Shares of Bank Of Montreal (BMO)
Jarislowsky Fraser Ltd boosted its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,738 shares of the bank’s stock after acquiring an additional 10,272 shares during the period. Jarislowsky Fraser Ltd’s holdings in Bank Of Montreal were worth $18,025,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of BMO. Canada Pension Plan Investment Board boosted its holdings in Bank Of Montreal by 1,053.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,060,416 shares of the bank’s stock worth $224,388,000 after buying an additional 2,795,116 shares during the last quarter. Public Sector Pension investment Board boosted its holdings in Bank Of Montreal by 13,359.7% during the second quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock worth $94,699,000 after buying an additional 1,282,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Bank Of Montreal by 123.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,405,000 shares of the bank’s stock worth $103,154,000 after buying an additional 776,318 shares during the last quarter. Scotia Capital Inc. boosted its holdings in Bank Of Montreal by 50.2% during the second quarter. Scotia Capital Inc. now owns 2,271,198 shares of the bank’s stock worth $166,780,000 after buying an additional 758,940 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Bank Of Montreal by 5.4% during the second quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock worth $1,071,673,000 after buying an additional 748,173 shares during the last quarter. Institutional investors and hedge funds own 42.65% of the company’s stock.
A number of brokerages have issued reports on BMO. Macquarie began coverage on Bank Of Montreal in a report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. Zacks Investment Research cut Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Canaccord Genuity began coverage on Bank Of Montreal in a report on Tuesday, July 18th. They set a “hold” rating on the stock. BidaskClub cut Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Scotiabank restated a “buy” rating and set a $101.00 target price on shares of Bank Of Montreal in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $95.40.
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Bank Of Montreal (BMO) opened at $77.07 on Tuesday. Bank Of Montreal has a 1-year low of $63.66 and a 1-year high of $78.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $49,760.00, a PE ratio of 12.28, a PEG ratio of 2.16 and a beta of 1.06.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm earned $1.94 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. analysts forecast that Bank Of Montreal will post 6.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Tuesday, October 31st. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is 45.07%.
Bank Of Montreal Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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