Norges Bank Makes New Investment in Bank Of Montreal $BMO

Norges Bank bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,156,958 shares of the bank’s stock, valued at approximately $1,059,320,000. Norges Bank owned about 1.15% of Bank Of Montreal as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal during the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Bank Of Montreal during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC raised its holdings in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Bank Of Montreal during the fourth quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Bank Of Montreal during the third quarter valued at approximately $42,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

NYSE BMO opened at $162.07 on Friday. Bank Of Montreal has a 12 month low of $104.08 and a 12 month high of $163.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $113.51 billion, a PE ratio of 17.20, a P/E/G ratio of 0.90 and a beta of 0.94. The company’s 50 day simple moving average is $148.07 and its 200 day simple moving average is $139.17.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter last year, the business earned $2.62 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BMO. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

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.