Northwestern Mutual Wealth Management Co. Buys 5,568 Shares of Bank Of Montreal $BMO

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 35.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,268 shares of the bank’s stock after purchasing an additional 5,568 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank Of Montreal were worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMO. Canerector Inc. lifted its holdings in shares of Bank Of Montreal by 18,035.0% during the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after buying an additional 22,543,750 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Bank Of Montreal by 10.3% during the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after buying an additional 1,789,188 shares in the last quarter. UBS Group AG lifted its holdings in shares of Bank Of Montreal by 155.3% during the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after buying an additional 1,294,169 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after buying an additional 673,248 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Bank Of Montreal by 51.3% during the third quarter. Invesco Ltd. now owns 1,606,369 shares of the bank’s stock worth $209,230,000 after buying an additional 544,999 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $164.49 on Friday. The business has a 50 day moving average of $150.86 and a 200-day moving average of $140.53. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $165.92. 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 company has a market capitalization of $115.21 billion, a P/E ratio of 17.46, a P/E/G ratio of 0.92 and a beta of 0.95.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is currently 50.96%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMO. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank raised Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 1st. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Zacks Research downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company 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.