Pictet Asset Management Holding SA Has $51.23 Million Stock Holdings in Bank Of Montreal $BMO

Pictet Asset Management Holding SA trimmed its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.6% during the first quarter, HoldingsChannel reports. The firm owned 379,414 shares of the bank’s stock after selling 22,342 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Bank Of Montreal were worth $51,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its stake in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Bank Of Montreal in the fourth quarter valued at about $34,000. Finally, Swiss RE Ltd. bought a new stake in shares of Bank Of Montreal in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.6%

Shares of Bank Of Montreal stock opened at $176.18 on Tuesday. The firm has a market cap of $123.40 billion, a PE ratio of 18.70, a P/E/G ratio of 0.98 and a beta of 0.95. The business’s 50 day simple moving average is $160.58 and its 200 day simple moving average is $145.81. 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 has a 52-week low of $109.31 and a 52-week high of $176.38.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share 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 the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 EPS. On average, analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a dividend of $1.71 per share. The ex-dividend date 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 annualized dividend and a yield of 3.9%. Bank Of Montreal’s dividend payout ratio is currently 52.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BMO. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.