Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Bank Of Montreal in the fourth quarter valued at approximately $1,014,633,000. The Manufacturers Life Insurance Company lifted its stake in Bank Of Montreal by 42.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank’s stock valued at $664,742,000 after buying an additional 2,044,862 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Bank Of Montreal by 15.4% during the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank’s stock valued at $1,184,636,000 after acquiring an additional 1,630,962 shares during the period. Federated Hermes Inc. grew its position in shares of Bank Of Montreal by 1,527.7% during the fourth quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank’s stock worth $112,626,000 after acquiring an additional 1,089,199 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Bank Of Montreal by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank’s stock worth $1,244,284,000 after acquiring an additional 1,020,712 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on BMO shares. Cibc World Mkts cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. CIBC restated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Scotiabank started coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They issued a “sector perform” rating for the company. Barclays downgraded shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. Finally, Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Hold” and an average price target of $129.50.

View Our Latest Report on Bank Of Montreal

Shares of NYSE BMO opened at $109.06 on Friday. Bank Of Montreal has a twelve month low of $76.98 and a twelve month high of $109.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $102.99 and a two-hundred day moving average of $99.41. The company has a market capitalization of $78.55 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.20 and a beta of 1.08.

Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last issued its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.59 earnings per share. As a group, analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be issued a $1.1801 dividend. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. Bank Of Montreal’s payout ratio is presently 57.33%.

(Free Report)

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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