Candriam S.C.A. Raises Position in Bank Of Montreal $BMO

Candriam S.C.A. increased its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2,553.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 180,563 shares of the bank’s stock after purchasing an additional 173,758 shares during the quarter. Candriam S.C.A.’s holdings in Bank Of Montreal were worth $23,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC purchased a new position in shares of Bank Of Montreal during the 3rd quarter valued at $28,000. WFA of San Diego LLC purchased a new stake in Bank Of Montreal in the 2nd quarter worth about $28,000. Princeton Global Asset Management LLC raised its stake in Bank Of Montreal by 40.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Harbor Asset Planning Inc. purchased a new stake in Bank Of Montreal during the second quarter valued at about $39,000. Finally, Vision Financial Markets LLC boosted its position in Bank Of Montreal by 100.0% during the second quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock worth $44,000 after purchasing an additional 200 shares during the period. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They set a “market perform” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. 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, Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $144.65 on Tuesday. The stock’s 50-day simple moving average is $133.33 and its two-hundred day simple moving average is $126.39. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $144.82. The firm has a market capitalization of $102.35 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.17 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 (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. The company had revenue of $6.67 billion during 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%.Bank Of Montreal’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 earnings per share. As a group, equities analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed 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 is an increase 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 dividend yield of 4.6%. Bank Of Montreal’s dividend payout ratio is 59.68%.

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.