Corient Private Wealth LLC Buys 5,267 Shares of Bank Of Montreal $BMO

Corient Private Wealth LLC lifted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 30.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,684 shares of the bank’s stock after purchasing an additional 5,267 shares during the quarter. Corient Private Wealth LLC’s holdings in Bank Of Montreal were worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. Vanguard Group Inc. lifted its stake in shares of Bank Of Montreal by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock valued at $3,567,773,000 after acquiring an additional 1,196,237 shares during the last quarter. Norges Bank bought a new position in Bank Of Montreal in the 2nd quarter valued at approximately $1,184,220,000. Geode Capital Management LLC boosted its position in Bank Of Montreal by 19.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock worth $655,674,000 after buying an additional 939,156 shares during the period. Legal & General Group Plc increased its position in Bank Of Montreal by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 4,348,743 shares of the bank’s stock valued at $480,988,000 after acquiring an additional 16,538 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Bank Of Montreal by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 4,096,926 shares of the bank’s stock valued at $453,243,000 after acquiring an additional 158,442 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Trading Up 0.0%

NYSE BMO opened at $129.74 on Tuesday. The business has a 50 day simple moving average of $125.86 and a 200 day simple moving average of $120.30. Bank Of Montreal has a one year low of $85.40 and a one year high of $132.96. The stock has a market capitalization of $92.01 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

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

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 5.1%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, January 30th. Bank Of Montreal’s payout ratio is presently 57.35%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. UBS Group reissued a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cowen reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $163.00.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.