Abacus Wealth Partners LLC Invests $1.18 Million in Bank Of Montreal $BMO

Abacus Wealth Partners LLC bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, Holdings Channel reports. The firm bought 9,121 shares of the bank’s stock, valued at approximately $1,184,000.

Other hedge funds have also recently modified their holdings of the company. WFA of San Diego LLC purchased a new stake in shares of Bank Of Montreal in the second quarter worth about $28,000. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after buying an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Bank Of Montreal during the fourth quarter worth approximately $34,000. Sunbelt Securities Inc. purchased a new position in Bank Of Montreal during the third quarter worth approximately $42,000. Finally, Bayforest Capital Ltd boosted its position in Bank Of Montreal by 669.6% during the fourth quarter. Bayforest Capital Ltd now owns 354 shares of the bank’s stock worth $46,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Monday, May 4th. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Zacks Research downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $152.44 on Friday. The company has a market capitalization of $106.84 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.87 and a beta of 0.94. The business’s 50 day moving average is $144.25 and its two-hundred day moving average is $136.71. Bank Of Montreal has a 12-month low of $102.46 and a 12-month high of $156.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.16. The business had revenue of $7.21 billion for 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. Analysts expect that Bank Of Montreal will post 11.57 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio (DPR) is 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.