JPMorgan Chase & Co. Trims Holdings in Bank Of Montreal $BMO

JPMorgan Chase & Co. decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,034,186 shares of the bank’s stock after selling 62,740 shares during the quarter. JPMorgan Chase & Co. owned 0.57% of Bank Of Montreal worth $525,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Bank Of Montreal by 18.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock valued at $82,015,000 after purchasing an additional 114,458 shares during the period. Citigroup Inc. increased its holdings in Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock worth $65,479,000 after purchasing an additional 134,699 shares during the period. Addenda Capital Inc. raised its position in Bank Of Montreal by 9.5% in the 3rd quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after purchasing an additional 63,432 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Bank Of Montreal by 17.3% in the 3rd 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 during the period. Finally, JCIC Asset Management Inc. purchased a new position in shares of Bank Of Montreal in the 3rd quarter valued at about $7,939,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Shares of BMO opened at $139.93 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $140.06 and its two-hundred day moving average is $131.68. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $149.01. The firm has a market capitalization of $98.82 billion, a PE ratio of 16.25, a P/E/G ratio of 0.96 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 EPS. Research analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 4.8%. Bank Of Montreal’s dividend payout ratio is presently 56.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Zacks Research raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Bank Of Montreal has an average rating of “Moderate Buy” and an average target price of $163.00.

About Bank Of Montreal

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.