Bank Of Montreal $BMO Shares Bought by Addenda Capital Inc.

Addenda Capital Inc. lifted its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 734,616 shares of the bank’s stock after acquiring an additional 63,432 shares during the quarter. Bank Of Montreal makes up approximately 3.5% of Addenda Capital Inc.’s investment portfolio, making the stock its 5th largest position. Addenda Capital Inc. owned approximately 0.10% of Bank Of Montreal worth $95,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BMO. American Century Companies Inc. grew its stake in Bank Of Montreal by 1.1% in the first quarter. American Century Companies Inc. now owns 196,451 shares of the bank’s stock valued at $18,760,000 after purchasing an additional 2,233 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Bank Of Montreal by 8.6% in the 1st quarter. Algert Global LLC now owns 19,009 shares of the bank’s stock valued at $1,817,000 after buying an additional 1,500 shares during the last quarter. Northern Trust Corp grew its stake in shares of Bank Of Montreal by 6.1% in the first quarter. Northern Trust Corp now owns 570,798 shares of the bank’s stock valued at $54,517,000 after buying an additional 32,989 shares in the last quarter. Legacy Financial Advisors Inc. bought a new position in shares of Bank Of Montreal in the first quarter valued at $228,000. Finally, Credit Agricole S A increased its holdings in Bank Of Montreal by 6.0% during the first quarter. Credit Agricole S A now owns 19,899 shares of the bank’s stock worth $1,901,000 after buying an additional 1,118 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the subject of a number of recent analyst reports. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They issued a “market perform” rating for the company. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Natl Bk Canada lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

Shares of NYSE:BMO opened at $128.90 on Friday. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $132.96. The company’s 50 day moving average price is $125.71 and its two-hundred day moving average price is $119.83. The firm has a market cap of $91.42 billion, a PE ratio of 15.80, a PEG ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. Equities research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is currently 57.35%.

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.