Bank Of Montreal $BMO is TD Asset Management Inc’s 7th Largest Position

TD Asset Management Inc grew its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,079,026 shares of the bank’s stock after buying an additional 1,789,188 shares during the period. Bank Of Montreal accounts for about 2.0% of TD Asset Management Inc’s investment portfolio, making the stock its 7th largest position. TD Asset Management Inc owned about 2.67% of Bank Of Montreal worth $2,486,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank Of Montreal by 18.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock worth $82,015,000 after purchasing an additional 114,458 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Bank Of Montreal by 36.6% in the third quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock worth $65,479,000 after purchasing an additional 134,699 shares during the last quarter. Addenda Capital Inc. lifted its position in shares of Bank Of Montreal by 9.5% in the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock worth $95,684,000 after buying an additional 63,432 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Bank Of Montreal by 17.3% in the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after buying an additional 1,070,546 shares in the last quarter. Finally, JCIC Asset Management Inc. bought a new position in Bank Of Montreal during the third quarter valued at approximately $7,939,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Raymond James Financial raised shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. National Bank Financial lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $142.36 on Wednesday. The firm has a market capitalization of $100.54 billion, a PE ratio of 17.45, a PEG ratio of 0.99 and a beta of 0.94. The stock’s fifty day moving average is $136.39 and its 200 day moving average is $128.75. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $147.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

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, beating 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 business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current 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 given a $1.67 dividend. 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. This represents a $6.68 dividend on an annualized basis and a yield of 4.7%. Bank Of Montreal’s dividend payout ratio is currently 59.68%.

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.