GAMMA Investing LLC Has $14.32 Million Stock Holdings in Bank of Montreal (NYSE:BMO)
Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after buying an additional 201 shares during the period. Addison Advisors LLC increased its stake in shares of Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after buying an additional 246 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at about $39,000. Dunhill Financial LLC acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at about $39,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Wall Street Zen upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC restated a “neutral” rating on shares of Bank of Montreal in a research report on Tuesday, May 20th. Scotiabank initiated coverage on Bank of Montreal in a research report on Thursday, May 15th. They set a “sector perform” rating on the stock. Finally, Cibc World Mkts lowered Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $129.50.
Shares of Bank of Montreal stock opened at $108.25 on Friday. Bank of Montreal has a one year low of $76.98 and a one year high of $109.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $98.35 and its 200 day moving average is $98.33. The firm has a market cap of $78.16 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.43 and a beta of 1.08.
Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.84. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 earnings per share. Equities research analysts anticipate that Bank of Montreal will post 7.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.36%. Bank of Montreal’s dividend payout ratio is 58.75%.
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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