The Manufacturers Life Insurance Company Makes New Investment in Bank Of Montreal $BMO

The Manufacturers Life Insurance Company purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,361,978 shares of the bank’s stock, valued at approximately $416,645,000. The Manufacturers Life Insurance Company owned 0.34% of Bank Of Montreal at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Bank Of Montreal in the second quarter worth $28,000. WFA of San Diego LLC purchased a new position in Bank Of Montreal during the second quarter worth about $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the 4th quarter worth about $29,000. Larson Financial Group LLC increased its stake in Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of Bank Of Montreal in the 1st quarter valued at about $38,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMO shares. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods initiated coverage on shares of Bank Of Montreal in a research report on Friday. They set an “outperform” rating for the company. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Friday. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Trading Down 1.3%

Shares of BMO stock opened at $172.22 on Tuesday. 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 50-day moving average price of $177.74 and a two-hundred day moving average price of $158.64. Bank Of Montreal has a 12-month low of $113.60 and a 12-month high of $187.22. The firm has a market cap of $120.06 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.62 EPS. Equities analysts anticipate that Bank Of Montreal will post 10.49 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is currently 51.06%.

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.