Van ECK Associates Corp Raises Stake in Bank Of Montreal $BMO

Van ECK Associates Corp lifted its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.8% during the third quarter, HoldingsChannel reports. The firm owned 478,751 shares of the bank’s stock after purchasing an additional 88,912 shares during the period. Van ECK Associates Corp’s holdings in Bank Of Montreal were worth $62,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after buying an additional 2,673 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Bank Of Montreal by 64.3% in the second quarter. Savant Capital LLC now owns 6,348 shares of the bank’s stock valued at $702,000 after acquiring an additional 2,485 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Bank Of Montreal by 4.5% in the second quarter. Wedbush Securities Inc. now owns 3,091 shares of the bank’s stock worth $342,000 after acquiring an additional 132 shares during the period. AE Wealth Management LLC grew its holdings in Bank Of Montreal by 7.3% during the 2nd quarter. AE Wealth Management LLC now owns 3,182 shares of the bank’s stock worth $352,000 after acquiring an additional 216 shares in the last quarter. Finally, Prospera Financial Services Inc grew its holdings in Bank Of Montreal by 11.5% during the 2nd quarter. Prospera Financial Services Inc now owns 3,383 shares of the bank’s stock worth $374,000 after acquiring an additional 348 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.7%

Shares of BMO stock opened at $143.00 on Wednesday. The stock’s 50-day simple moving average is $139.32 and its 200-day simple moving average is $130.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $100.99 billion, a PE ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.92. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $149.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. Equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. Bank Of Montreal’s dividend payout ratio is presently 56.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Zacks Research raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Finally, Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and a consensus price target 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.