359 Shares in Bank Of Montreal $BMO Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd acquired a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 359 shares of the bank’s stock, valued at approximately $34,000.

Other hedge funds have also bought and sold shares of the company. State of Wyoming boosted its stake in Bank Of Montreal by 237.4% during the first quarter. State of Wyoming now owns 14,254 shares of the bank’s stock worth $1,361,000 after acquiring an additional 10,029 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Bank Of Montreal by 66.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after buying an additional 1,469,084 shares in the last quarter. Baskin Financial Services Inc. lifted its stake in shares of Bank Of Montreal by 134.2% in the first quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank’s stock worth $709,000 after buying an additional 4,256 shares in the last quarter. Code Waechter LLC bought a new position in shares of Bank Of Montreal in the first quarter worth approximately $282,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Bank Of Montreal in the first quarter worth approximately $606,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BMO. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Barclays cut shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday, June 9th. Finally, National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $168.00.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $126.36 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average price of $116.10 and a 200 day moving average price of $105.84. Bank Of Montreal has a fifty-two week low of $85.20 and a fifty-two week high of $127.37. The firm has a market cap of $90.52 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $8.84 billion. During the same quarter last year, the business earned $2.64 earnings per share. Bank Of Montreal’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.2%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s payout ratio is 57.53%.

About Bank Of Montreal

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.