42,332 Shares in Bank of Montreal (NYSE:BMO) Purchased by Avanza Fonder AB
Avanza Fonder AB purchased a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,332 shares of the bank's stock, valued at approximately $4,108,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its stake in shares of Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank's stock worth $2,747,000 after acquiring an additional 29,367 shares during the period. Newport Trust Company LLC lifted its position in Bank of Montreal by 1.1% in the second quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank's stock worth $118,371,000 after purchasing an additional 14,809 shares during the period. Wellington Management Group LLP boosted its stake in Bank of Montreal by 80.0% during the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank's stock valued at $11,344,000 after purchasing an additional 55,823 shares in the last quarter. Intact Investment Management Inc. increased its position in shares of Bank of Montreal by 72.9% during the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank's stock valued at $53,082,000 after purchasing an additional 248,098 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Bank of Montreal by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank's stock worth $300,137,000 after buying an additional 144,252 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on BMO shares. Royal Bank of Canada upgraded shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Tuesday, December 17th. Scotiabank upgraded shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Finally, Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $128.00.
Check Out Our Latest Report on Bank of Montreal
NYSE:BMO traded down $0.21 on Friday, hitting $98.99. 375,202 shares of the company's stock traded hands, compared to its average volume of 436,652. The company has a market cap of $72.23 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $96.63 and a 200-day moving average price of $90.56.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Thursday, January 30th. Bank of Montreal's payout ratio is currently 65.62%.
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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