Park Avenue Securities LLC Makes New Investment in Bank Of Montreal $BMO

Park Avenue Securities LLC purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,599 shares of the bank’s stock, valued at approximately $509,000.

Several other hedge funds also recently modified their holdings of BMO. Cary Street Partners Investment Advisory LLC increased its stake in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Bank Of Montreal in the 1st quarter valued at $34,000. Truvestments Capital LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter valued at $39,000. CX Institutional bought a new stake in shares of Bank Of Montreal in the 1st quarter valued at $42,000. Finally, HM Payson & Co. bought a new stake in shares of Bank Of Montreal in the 1st quarter valued at $42,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO opened at $129.85 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $92.82 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.33 and a beta of 1.04. The firm’s fifty day moving average price is $119.63 and its two-hundred day moving average price is $108.26. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36.

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

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s payout ratio is presently 58.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on BMO. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Barclays lowered shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 9th. Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Bank Of Montreal from $161.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.00.

Bank Of Montreal Profile

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.