CenterBook Partners LP Makes New Investment in Bank Of Montreal $BMO

CenterBook Partners LP purchased a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,478 shares of the bank’s stock, valued at approximately $916,000.

Several other large investors also recently made changes to their positions in BMO. Canada Pension Plan Investment Board acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $1,281,220,000. TD Waterhouse Canada Inc. grew its position in Bank Of Montreal by 2.0% in the second quarter. TD Waterhouse Canada Inc. now owns 6,350,903 shares of the bank’s stock worth $1,128,680,000 after buying an additional 123,387 shares during the last quarter. Caisse de depot et placement du Quebec acquired a new position in Bank Of Montreal in the second quarter worth approximately $957,549,000. Bank of Nova Scotia bought a new position in shares of Bank Of Montreal in the second quarter valued at $920,002,000. Finally, Legal & General Group Plc bought a new position in shares of Bank Of Montreal in the second quarter valued at $744,214,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BMO has been the subject of several research reports. Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating on the stock. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $244.00.

Bank Of Montreal Trading Down 0.7%

Shares of NYSE:BMO opened at $172.79 on Wednesday. The firm has a fifty day moving average of $170.51 and a two-hundred day moving average of $161.20. The firm has a market capitalization of $119.51 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $3.23 EPS. On average, equities analysts expect that Bank Of Montreal will post 10.65 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a C$1.71 dividend. The ex-dividend date is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 54.18%.

Bank Of Montreal Profile

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services. BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.