Bank Of Montreal $BMO Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 36.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 502,382 shares of the bank’s stock after buying an additional 134,699 shares during the period. Citigroup Inc. owned 0.07% of Bank Of Montreal worth $65,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in Bank Of Montreal during the third quarter worth about $28,000. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the 2nd quarter worth approximately $28,000. Vision Financial Markets LLC raised its position in shares of Bank Of Montreal by 100.0% during the 2nd quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock valued at $44,000 after buying an additional 200 shares during the period. Toth Financial Advisory Corp acquired a new position in Bank Of Montreal in the third quarter valued at approximately $52,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Bank Of Montreal by 107.7% in the third quarter. Smartleaf Asset Management LLC now owns 407 shares of the bank’s stock valued at $53,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $142.45 on Tuesday. The firm has a 50 day moving average of $136.16 and a two-hundred day moving average of $128.54. The stock has a market capitalization of $100.60 billion, a PE ratio of 17.46, a P/E/G ratio of 1.02 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 52 week low of $85.40 and a 52 week high of $147.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 11.76% and a net margin of 11.13%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, research analysts predict 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 paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, January 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. National Bank Financial cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Zacks Research upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank Of Montreal has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.