Avanza Fonder AB Raises Position in Bank of Montreal (NYSE:BMO)

Avanza Fonder AB lifted its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,232 shares of the bank’s stock after purchasing an additional 1,900 shares during the period. Avanza Fonder AB’s holdings in Bank of Montreal were worth $4,225,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC grew its stake in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after buying an additional 246 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Bank of Montreal in the 4th quarter valued at approximately $39,000. Dunhill Financial LLC purchased a new position in Bank of Montreal in the 4th quarter valued at approximately $39,000. Finally, First Horizon Advisors Inc. grew its stake in Bank of Montreal by 140.9% in the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after buying an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Down 0.2%

Shares of NYSE:BMO opened at $107.87 on Wednesday. The firm has a fifty day moving average price of $98.80 and a two-hundred day moving average price of $98.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $109.10. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.43 and a beta of 1.08.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period last year, the firm earned $2.59 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.1801 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Wednesday, July 30th. Bank of Montreal’s payout ratio is currently 61.48%.

Wall Street Analysts Forecast Growth

BMO has been the subject of a number of recent research reports. Scotiabank initiated coverage on shares of Bank of Montreal in a research note on Thursday, May 15th. They issued a “sector perform” rating for the company. Cibc World Mkts lowered shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Wall Street Zen upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Barclays lowered shares of Bank of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday. Finally, CIBC reissued a “neutral” rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and a consensus price target of $129.50.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.