Bleakley Financial Group LLC Buys Shares of 10,064 Bank Of Montreal $BMO

Bleakley Financial Group LLC bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,064 shares of the bank’s stock, valued at approximately $1,311,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Bank Of Montreal by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock valued at $4,214,676,000 after purchasing an additional 149,944 shares during the period. Norges Bank purchased a new position in shares of Bank Of Montreal during the 2nd quarter valued at about $1,184,220,000. CIBC Asset Management Inc grew its holdings in shares of Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after purchasing an additional 1,070,546 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Bank Of Montreal by 19.2% in the second quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock worth $655,674,000 after buying an additional 939,156 shares during the period. Finally, Legal & General Group Plc lifted its position in Bank Of Montreal by 0.4% in the second quarter. Legal & General Group Plc now owns 4,348,743 shares of the bank’s stock valued at $480,988,000 after purchasing an additional 16,538 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BMO shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Finally, Zacks Research upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Up 0.0%

Shares of BMO stock opened at $142.36 on Wednesday. The company has a current ratio of 1.00, a quick 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 $147.04. The stock has a market cap of $100.54 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a 50 day simple moving average of $136.39 and a two-hundred day simple moving average of $128.75.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. On average, research analysts expect 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. 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%. 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. Bank Of Montreal’s dividend payout ratio is 59.68%.

Bank Of Montreal Company 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.