Pictet Asset Management Holding SA Has $51.23 Million Stock Holdings in Bank Of Montreal $BMO

Pictet Asset Management Holding SA trimmed its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 379,414 shares of the bank’s stock after selling 22,342 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of Bank Of Montreal worth $51,227,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Bank Of Montreal in the fourth quarter worth about $29,000. Larson Financial Group LLC grew its stake 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 purchasing an additional 196 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Bank Of Montreal in the fourth quarter valued at approximately $34,000. Finally, Swiss RE Ltd. bought a new position in Bank Of Montreal in the 4th quarter worth approximately $38,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO opened at $176.18 on Tuesday. The company has a fifty day moving average price of $160.58 and a two-hundred day moving average price of $145.81. The firm has a market capitalization of $123.40 billion, a PE ratio of 18.70, a P/E/G ratio of 0.98 and a beta of 0.95. Bank Of Montreal has a 52 week low of $109.31 and a 52 week high of $176.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the prior year, the business posted $2.62 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 52.55%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal has a consensus rating of “Hold” and an average target price of $163.00.

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.