CIBC Asset Management Inc Has $949.44 Million Stock Holdings in Bank Of Montreal $BMO

CIBC Asset Management Inc increased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 17.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,260,160 shares of the bank’s stock after acquiring an additional 1,070,546 shares during the quarter. Bank Of Montreal comprises 2.7% of CIBC Asset Management Inc’s portfolio, making the stock its 6th biggest holding. CIBC Asset Management Inc owned 1.02% of Bank Of Montreal worth $949,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Bank Of Montreal by 18.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock valued at $82,015,000 after acquiring an additional 114,458 shares during the period. Addenda Capital Inc. increased its stake in shares of Bank Of Montreal by 9.5% during the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock worth $95,684,000 after purchasing an additional 63,432 shares during the period. JCIC Asset Management Inc. acquired a new stake in Bank Of Montreal during the 3rd quarter worth approximately $7,939,000. Lorne Steinberg Wealth Management Inc. boosted its stake in Bank Of Montreal by 24.1% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 92,014 shares of the bank’s stock valued at $10,204,000 after purchasing an additional 17,883 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Bank Of Montreal by 7.9% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 607,701 shares of the bank’s stock valued at $67,389,000 after buying an additional 44,618 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMO shares. Raymond James Financial initiated coverage on Bank Of Montreal in a report on Monday, November 24th. They set a “market perform” rating for the company. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Friday, January 9th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. TD Securities reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Friday, December 5th. Finally, Royal Bank Of Canada downgraded shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $168.00 to $163.00 in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Price Performance

BMO stock opened at $137.72 on Friday. The company’s 50-day moving average price is $129.65 and its two-hundred day moving average price is $124.32. The firm has a market cap of $97.45 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.14 and a beta of 0.94. 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 has a 12 month low of $85.40 and a 12 month high of $139.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.20. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. On average, analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be issued a dividend of $1.67 per share. 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. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.9%. Bank Of Montreal’s payout ratio is presently 59.56%.

Bank Of Montreal Profile

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.