PensionDanmark Pensionsforsikringsaktieselskab Acquires 11,400 Shares of Bank Of Montreal $BMO

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,582 shares of the bank’s stock after purchasing an additional 11,400 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Bank Of Montreal were worth $20,245,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Code Waechter LLC grew its position in shares of Bank Of Montreal by 1.7% during 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. Versant Capital Management Inc raised its position in shares of Bank Of Montreal by 1.9% in the second quarter. Versant Capital Management Inc now owns 4,241 shares of the bank’s stock valued at $749,000 after buying an additional 78 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 33.2% in the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after buying an additional 79 shares during the period. Naples Global Advisors LLC boosted its stake 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 valued at $2,308,000 after buying an additional 80 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in Bank Of Montreal by 2.9% during 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. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $181.62 on Friday. Bank Of Montreal has a twelve month low of $112.21 and a twelve month high of $184.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $174.50 and its 200 day simple moving average is $155.25. The firm has a market capitalization of $126.91 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.62 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 11.81 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders 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 is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.8%. Bank Of Montreal’s payout ratio is 51.06%.

Analysts Set New Price Targets

BMO has been the subject of several analyst reports. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal 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.