GAMMA Investing LLC has significantly increased its holdings in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO), boosting its stake by a remarkable 9,451.0% in the 1st quarter. According to its most recent disclosure with the Securities and Exchange Commission, the firm acquired an additional 148,381 shares, bringing its total ownership to 149,951 shares. This substantial investment valued GAMMA Investing LLC’s holdings in Bank of Montreal at $14,322,000 as of its most recent filing.

Other institutional investors and hedge funds have also recently made changes to their positions in Bank of Montreal. IFP Advisors Inc increased its stake by 179.5% in the fourth quarter, now owning 313 shares of the bank’s stock valued at $30,000. Addison Advisors LLC grew its stake by 282.8% in the fourth quarter, holding 333 shares valued at $32,000. Vision Financial Markets LLC and Dunhill Financial LLC both acquired new stakes in Bank of Montreal during the fourth quarter, each valued at approximately $39,000. Additionally, First Horizon Advisors Inc. increased its stake by 140.9% in the fourth quarter, now owning 612 shares valued at $59,000. Overall, institutional investors and hedge funds own 45.82% of the company’s stock.

Several equities research analysts have recently weighed in on Bank of Montreal. Royal Bank of Canada increased their price target on the company from $161.00 to $163.00 and gave it 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, setting 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. According to MarketBeat, Bank of Montreal currently has an average rating of “Hold” from the eight investment analysts providing a hold rating and two giving a buy rating, with an average price target of $129.50.

Shares of Bank of Montreal stock opened at $108.25 on a recent Friday. The stock has experienced a one-year low of $76.98 and a one-year high of $109.10. Financially, Bank of Montreal 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, while its 200-day moving average is $98.33. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 15.51, a price/earnings-to-growth (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, aligning with 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 company also recently disclosed an increase to its quarterly dividend. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share on Tuesday, August 26th. The ex-dividend date of this dividend is Wednesday, July 30th. This represents an increase from Bank of Montreal’s previous quarterly dividend of $1.11. This translates to an annualized dividend of $4.72 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. Its commercial banking products and services comprise various financing options and treasury and payment solutions, as well as risk management products.