Mackenzie Financial Corp Sells 535,377 Shares of Bank Of Montreal $BMO

Mackenzie Financial Corp lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,516,315 shares of the bank’s stock after selling 535,377 shares during the period. Bank Of Montreal comprises about 1.5% of Mackenzie Financial Corp’s portfolio, making the stock its 11th largest position. Mackenzie Financial Corp’s holdings in Bank Of Montreal were worth $1,239,787,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BMO. Van ECK Associates Corp boosted its holdings in Bank Of Montreal by 22.8% during the third quarter. Van ECK Associates Corp now owns 478,751 shares of the bank’s stock worth $62,313,000 after purchasing an additional 88,912 shares during the last quarter. Legal & General Group Plc grew its position in Bank Of Montreal by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 4,525,666 shares of the bank’s stock worth $589,861,000 after purchasing an additional 176,923 shares in the last quarter. Clarkston Capital Partners LLC purchased a new stake in Bank Of Montreal in the 3rd quarter valued at about $231,000. Russell Investments Group Ltd. increased its stake in Bank Of Montreal by 22.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 370,391 shares of the bank’s stock valued at $48,233,000 after buying an additional 67,223 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Bank Of Montreal by 10.0% during the 3rd quarter. Parallel Advisors LLC now owns 2,758 shares of the bank’s stock worth $359,000 after buying an additional 251 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Price Performance

BMO opened at $143.00 on Wednesday. The firm has a 50-day moving average price of $139.32 and a 200-day moving average price of $130.95. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $149.01. 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 company has a market capitalization of $100.99 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.98 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. Bank Of Montreal’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. Equities analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a dividend yield of 4.7%. Bank Of Montreal’s dividend payout ratio is currently 56.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BMO shares. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Zacks Research raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Finally, National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.00.

About Bank Of Montreal

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.