Wellington Management Group LLP Acquires Shares of 104,112 Bank Of Montreal $BMO

Wellington Management Group LLP acquired a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 104,112 shares of the bank’s stock, valued at approximately $18,395,000.

A number of other institutional investors have also modified their holdings of the stock. TD Asset Management Inc lifted its position in shares of Bank Of Montreal by 1.5% during the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock worth $2,519,180,000 after purchasing an additional 293,575 shares during the last quarter. FIL Ltd increased its holdings in Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after buying an additional 1,245,500 shares during the last quarter. Norges Bank bought a new stake in Bank Of Montreal in the fourth quarter valued at about $1,059,320,000. Canada Pension Plan Investment Board acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $1,281,220,000. Finally, Geode Capital Management LLC lifted its holdings in Bank Of Montreal by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after buying an additional 442,812 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $175.45 on Monday. The company has a market cap of $121.95 billion, a P/E ratio of 19.80, a PEG ratio of 1.04 and a beta of 0.93. The business has a 50 day moving average of $177.84 and a two-hundred day moving average of $160.59. Bank Of Montreal has a 52 week low of $119.84 and a 52 week high of $187.22. 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 announced its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.23 EPS. As a group, analysts anticipate that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a yield of 3.9%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 54.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods began coverage on shares of Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating for the company. Finally, TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Five investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $163.00.

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.