Van ECK Associates Corp Buys 88,912 Shares of Bank Of Montreal $BMO

Van ECK Associates Corp raised its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 478,751 shares of the bank’s stock after purchasing an additional 88,912 shares during the period. Van ECK Associates Corp owned 0.07% of Bank Of Montreal worth $62,313,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Bank Of Montreal in the 3rd quarter worth approximately $28,000. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal in the second quarter worth approximately $28,000. Toth Financial Advisory Corp purchased a new stake in shares of Bank Of Montreal in the third quarter worth $52,000. Smartleaf Asset Management LLC raised its position in shares of Bank Of Montreal by 107.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 407 shares of the bank’s stock valued at $53,000 after purchasing an additional 211 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $61,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the subject of several recent analyst reports. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Zacks Research upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Stock Performance

Shares of NYSE:BMO opened at $143.00 on Wednesday. The firm has a fifty day simple moving average of $139.32 and a two-hundred day simple moving average of $130.95. Bank Of Montreal has a 52 week low of $85.40 and a 52 week 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 stock has a market capitalization of $100.99 billion, a P/E ratio of 16.61, a PEG ratio of 0.98 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating 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 firm had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the firm earned $3.04 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be issued a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. Bank Of Montreal’s payout ratio is 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.