Picton Mahoney Asset Management Has $52.89 Million Stake in Bank Of Montreal $BMO

Picton Mahoney Asset Management decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 43.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 405,969 shares of the bank’s stock after selling 310,912 shares during the quarter. Picton Mahoney Asset Management’s holdings in Bank Of Montreal were worth $52,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Bank Of Montreal by 0.5% in the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock valued at $4,214,676,000 after acquiring an additional 149,944 shares during the last quarter. TD Asset Management Inc boosted its holdings in Bank Of Montreal by 10.3% in the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after purchasing an additional 1,789,188 shares in the last quarter. Norges Bank acquired a new position in Bank Of Montreal during the second quarter worth $1,184,220,000. CIBC Asset Management Inc raised its holdings in Bank Of Montreal by 17.3% during the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after buying an additional 1,070,546 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Bank Of Montreal by 19.2% in the second quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock worth $655,674,000 after buying an additional 939,156 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMO. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Raymond James Financial raised shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Down 1.1%

Shares of BMO stock opened at $143.86 on Wednesday. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $149.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market cap of $101.60 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The stock has a 50 day moving average of $138.05 and a 200-day moving average of $129.89.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $3.04 earnings per share. On average, equities analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be issued a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a dividend yield of 4.6%. Bank Of Montreal’s payout ratio is presently 56.56%.

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.