29,400 Shares in Bank Of Montreal $BMO Bought by Andra AP fonden

Andra AP fonden purchased a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,400 shares of the bank’s stock, valued at approximately $3,979,000.

Other hedge funds have also recently made changes to their positions in the company. Code Waechter LLC lifted its holdings in Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after purchasing an additional 75 shares in the last quarter. Larson Financial Group LLC grew its holdings in Bank Of Montreal by 33.2% during the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after buying an additional 79 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after buying an additional 80 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock worth $425,000 after buying an additional 88 shares in the last quarter. Finally, Turn8 Private Wealth Inc. boosted its position in shares of Bank Of Montreal by 0.8% during the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock worth $1,514,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

NYSE:BMO opened at $179.12 on Thursday. The firm has a market capitalization of $125.45 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $169.54 and a 200-day simple moving average of $151.54. Bank Of Montreal has a 1 year low of $109.64 and a 1 year high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. Equities analysts forecast that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is presently 50.96%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMO shares. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, July 8th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Finally, Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and an average target price of $163.00.

About Bank Of Montreal

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.