Tacita Capital Inc Purchases Shares of 8,605 Bank Of Montreal $BMO

Tacita Capital Inc acquired a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,605 shares of the bank’s stock, valued at approximately $1,518,000. Bank Of Montreal comprises approximately 0.8% of Tacita Capital Inc’s portfolio, making the stock its 26th biggest holding.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Bank Of Montreal by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after acquiring an additional 673,248 shares during the last quarter. TD Asset Management Inc increased its position in Bank Of Montreal by 1.5% in the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock worth $2,519,180,000 after purchasing an additional 293,575 shares during the last quarter. FIL Ltd increased its position in Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after purchasing an additional 1,245,500 shares during the last quarter. Norges Bank purchased a new stake in Bank Of Montreal during the fourth quarter valued at $1,059,320,000. Finally, Geode Capital Management LLC lifted its position in Bank Of Montreal by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock valued at $932,242,000 after purchasing an additional 442,812 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Bank Of Montreal has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $175.77 on Thursday. The firm has a 50-day moving average price of $177.42 and a 200-day moving average price of $157.91. The firm has a market capitalization of $122.54 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12-month low of $112.21 and a 12-month high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.62 EPS. As a group, equities research analysts forecast that Bank Of Montreal will post 10.54 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

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.