Hsbc Holdings PLC Takes Position in Bank Of Montreal $BMO

Hsbc Holdings PLC bought a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,188 shares of the bank’s stock, valued at approximately $915,000.

Several other hedge funds also recently added to or reduced their stakes in BMO. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Bank Of Montreal during the second quarter worth about $28,000. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal during the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in Bank Of Montreal in the first quarter valued at approximately $38,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $168.38 on Wednesday. The company has a market cap of $117.39 billion, a PE ratio of 19.00, a P/E/G ratio of 1.01 and a beta of 0.93. Bank Of Montreal has a fifty-two week low of $119.51 and a fifty-two week high of $187.22. The firm has a 50-day simple moving average of $177.78 and a 200 day simple moving average of $159.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 25th. The bank reported $2.84 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 analyst estimates of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 earnings per share. On average, sell-side analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is presently 54.29%.

Analyst Ratings Changes

A number of research firms have recently commented on BMO. Keefe, Bruyette & Woods began coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating on the stock. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal 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.