Bank Of Montreal $BMO Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 13.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 42,386 shares of the bank’s stock after purchasing an additional 4,988 shares during the period. Allianz Asset Management GmbH’s holdings in Bank Of Montreal were worth $5,520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. True Wealth Design LLC purchased a new stake in Bank Of Montreal in the third quarter valued at approximately $28,000. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at $28,000. Princeton Global Asset Management LLC raised its position 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 purchasing an additional 100 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in Bank Of Montreal during the 2nd quarter worth $39,000. Finally, Vision Financial Markets LLC grew its position in Bank Of Montreal by 100.0% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMO. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday. Raymond James Financial started coverage on Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating for the company. Natl Bk Canada downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $145.63 on Wednesday. The firm’s fifty day simple moving average is $133.73 and its 200-day simple moving average is $126.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $103.04 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $146.15.

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

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) 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.