Strategic Investment Advisors MI Buys New Stake in Bank Of Montreal $BMO

Strategic Investment Advisors MI purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to its most recent filing with the SEC. The fund purchased 3,556 shares of the bank’s stock, valued at approximately $481,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after buying an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bank Of Montreal during the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC raised its holdings in shares of Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after acquiring an additional 167 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after acquiring an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Bank Of Montreal by 5,614.3% in the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.5%

Shares of BMO opened at $179.51 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $172.64 and a 200 day moving average of $153.63. The company has a market cap of $125.43 billion, a PE ratio of 19.06, a P/E/G ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data 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 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 analysts’ expectations of $6.98 billion. During the same quarter in the previous year, the business posted $2.62 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 51.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.