Maryland State Retirement & Pension System Acquires 12,935 Shares of Bank of Montreal (NYSE:BMO)

Maryland State Retirement & Pension System increased its holdings in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 52.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,503 shares of the bank’s stock after purchasing an additional 12,935 shares during the period. Maryland State Retirement & Pension System’s holdings in Bank of Montreal were worth $3,398,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Bank of Montreal in the fourth quarter valued at $33,000. Cullen Frost Bankers Inc. increased its position in Bank of Montreal by 3,375.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after buying an additional 405 shares in the last quarter. Headlands Technologies LLC acquired a new position in Bank of Montreal during the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC boosted its holdings in Bank of Montreal by 39.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after acquiring an additional 130 shares in the last quarter. Finally, IAG Wealth Partners LLC grew its stake in Bank of Montreal by 117.5% in the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock valued at $49,000 after acquiring an additional 268 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on BMO shares. Desjardins downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Barclays initiated coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Finally, UBS Group began coverage on Bank of Montreal in a report on Tuesday. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and an average price target of $127.50.

View Our Latest Stock Report on Bank of Montreal

Bank of Montreal Trading Down 1.5 %

Shares of BMO stock opened at $83.72 on Friday. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company has a 50-day simple moving average of $88.71 and a two-hundred day simple moving average of $92.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $61.06 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.10 and a beta of 1.12.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Research analysts anticipate that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a dividend of $1.125 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.38%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is presently 74.25%.

Bank of Montreal Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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