Bank Of Montreal $BMO Position Increased by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA boosted its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 29.5% in the first quarter, Holdings Channel.com reports. The firm owned 62,396 shares of the bank’s stock after purchasing an additional 14,200 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bank Of Montreal were worth $8,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMO. Jefferies Financial Group Inc. increased its holdings in Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after buying an additional 472,000 shares during the last quarter. Andra AP fonden acquired a new stake in Bank Of Montreal in the first quarter valued at approximately $3,979,000. Vanguard Group Inc. lifted its stake in Bank Of Montreal by 2.1% in the fourth 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. Mn Services Vermogensbeheer B.V. grew its position in Bank Of Montreal by 16.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock worth $21,484,000 after acquiring an additional 23,113 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after acquiring an additional 333,994 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BMO shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bank Of Montreal has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Up 0.7%

Shares of Bank Of Montreal stock opened at $177.84 on Friday. The stock has a market capitalization of $124.56 billion, a P/E ratio of 18.88, a PEG ratio of 0.99 and a beta of 0.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $170.52 and a two-hundred day moving average price of $152.04. Bank Of Montreal has a 12-month low of $109.64 and a 12-month high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter last year, the company posted $2.62 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 50.96%.

About Bank Of Montreal

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.