Morningstar Investment Management LLC Invests $1.24 Million in Bank Of Montreal $BMO

Morningstar Investment Management LLC bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,571 shares of the bank’s stock, valued at approximately $1,243,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after buying an additional 673,248 shares in the last quarter. Canerector Inc. lifted its holdings in shares of Bank Of Montreal by 18,035.0% in the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after buying an additional 22,543,750 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Bank Of Montreal by 10.3% in the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after buying an additional 1,789,188 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Bank Of Montreal by 4.1% in the third quarter. Legal & General Group Plc now owns 4,525,666 shares of the bank’s stock worth $589,861,000 after buying an additional 176,923 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Bank Of Montreal by 2.6% in the third quarter. Fiera Capital Corp now owns 3,967,220 shares of the bank’s stock worth $516,291,000 after buying an additional 101,739 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Trading Up 0.1%

Shares of BMO opened at $161.10 on Tuesday. The company’s fifty day moving average is $146.16 and its 200 day moving average is $138.18. Bank Of Montreal has a fifty-two week low of $102.70 and a fifty-two week high of $161.55. The stock has a market capitalization of $112.91 billion, a PE ratio of 18.71, a P/E/G ratio of 0.91 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. Bank Of Montreal’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that Bank Of Montreal will post 11.56 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s payout ratio is 55.75%.

Wall Street Analyst Weigh In

BMO has been the topic of several research analyst reports. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Monday, May 4th. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Company 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.