Alberta Investment Management Corp Decreases Stock Position in Bank Of Montreal $BMO

Alberta Investment Management Corp lessened its holdings in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,000,300 shares of the bank’s stock after selling 108,200 shares during the quarter. Bank Of Montreal accounts for approximately 0.7% of Alberta Investment Management Corp’s holdings, making the stock its 14th largest holding. Alberta Investment Management Corp’s holdings in Bank Of Montreal were worth $129,909,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BMO. Canerector Inc. lifted its position in Bank Of Montreal by 18,035.0% during the 3rd quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after acquiring an additional 22,543,750 shares during the period. Norges Bank purchased a new position in shares of Bank Of Montreal in the fourth quarter worth about $1,059,320,000. TD Asset Management Inc lifted its holdings in shares of Bank Of Montreal by 10.3% during the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after purchasing an additional 1,789,188 shares during the period. Morgan Stanley lifted its holdings in shares of Bank Of Montreal by 74.4% during the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after purchasing an additional 1,628,318 shares during the period. Finally, UBS Group AG boosted its position in Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock valued at $277,091,000 after buying an additional 1,294,169 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Trading Up 0.6%

Shares of Bank Of Montreal stock opened at $170.80 on Friday. The firm has a 50-day simple moving average of $156.69 and a two-hundred day simple moving average of $143.48. The company has a market cap of $119.63 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 0.95 and a beta of 0.95. Bank Of Montreal has a fifty-two week low of $104.08 and a fifty-two week high of $173.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.62 EPS. As a group, equities analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business 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 $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is 50.96%.

Analyst Ratings Changes

Several analysts have commented on BMO shares. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Finally, TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bank Of Montreal has an average rating of “Hold” and an average target price of $163.00.

Get Our Latest Analysis on BMO

Bank Of Montreal Profile

(Free Report)

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.

Bank Of Montreal Trading Up 0.6%

Bank Of Montreal Increases Dividend

Analyst Ratings Changes

Bank Of Montreal Profile

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