7,581 Bank Of Montreal $BMO Shares Bought by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. grew its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.9% during the third quarter, Holdings Channel.com reports. The firm owned 161,565 shares of the bank’s stock after acquiring an additional 7,581 shares during the period. Bank Of Montreal accounts for approximately 3.5% of Triasima Portfolio Management inc.’s holdings, making the stock its 4th largest position. Triasima Portfolio Management inc.’s holdings in Bank Of Montreal were worth $27,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Bank Of Montreal during the second quarter worth $28,000. Western Wealth Management LLC purchased a new position in Bank Of Montreal in the first quarter valued at $38,000. Highland Investment Advisors LLC purchased a new position in Bank Of Montreal in the second quarter valued at $63,000. Virtus Advisers LLC purchased a new position in Bank Of Montreal in the second quarter valued at $95,000. Finally, Eastern Bank acquired a new stake in Bank Of Montreal in the second quarter valued at $88,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on BMO shares. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $244.00.

Bank Of Montreal Price Performance

Shares of BMO opened at $165.96 on Friday. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22. The stock has a market cap of $115.36 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average price of $172.76 and a 200 day moving average price of $166.48.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. Bank Of Montreal’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. As a group, sell-side analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be issued a C$1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal’s payout ratio is presently 54.29%.

Bank Of Montreal Profile

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.