Legal & General Group Plc Has $411.88 Million Holdings in Bank of Montreal (NYSE:BMO)
Legal & General Group Plc decreased its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,244,870 shares of the bank's stock after selling 1,140,833 shares during the period. Legal & General Group Plc owned approximately 0.58% of Bank of Montreal worth $411,884,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings 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 lifted its holdings in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after acquiring an additional 246 shares during the last quarter. Vision Financial Markets LLC bought a new position in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal in the 3rd quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Bank of Montreal by 140.9% in the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after purchasing an additional 358 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.
BMO has been the subject of a number of research reports. CIBC cut shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. Royal Bank of Canada upped their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Bank of Montreal currently has a consensus rating of "Hold" and an average price target of $128.40.
View Our Latest Stock Report on BMO
Shares of NYSE:BMO traded up $2.13 during trading on Friday, reaching $91.11. 910,159 shares of the company traded hands, compared to its average volume of 864,113. The firm has a fifty day simple moving average of $97.42 and a 200 day simple moving average of $96.18. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The firm has a market cap of $66.24 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 earnings per share. Analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a $1.1094 dividend. This represents a $4.44 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is 57.09%.
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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