60,937 Shares in Bank Of Montreal $BMO Acquired by JCIC Asset Management Inc.

JCIC Asset Management Inc. bought a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 60,937 shares of the bank’s stock, valued at approximately $7,939,000. Bank Of Montreal comprises 2.5% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position.

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

Wall Street Analysts Forecast Growth

BMO has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Natl Bk Canada downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Raymond James Financial began coverage on shares of Bank Of Montreal in a report on Monday, November 24th. They issued a “market perform” rating for the company. Royal Bank Of Canada downgraded shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $168.00 to $163.00 in a research note on Friday, October 3rd. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 1.1%

NYSE BMO opened at $136.35 on Monday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $137.16. The stock has a market capitalization of $96.47 billion, a PE ratio of 16.71, a PEG ratio of 1.13 and a beta of 0.94. 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 business’s 50-day moving average is $128.49 and its 200 day moving average is $123.56.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the business posted $1.90 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be issued a $1.67 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. This represents a $6.68 annualized dividend and a yield of 4.9%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 57.35%.

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.