Bank Of Montreal $BMO Shares Bought by Ethic Inc.

Ethic Inc. boosted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 30,199 shares of the bank’s stock after purchasing an additional 2,918 shares during the period. Ethic Inc.’s holdings in Bank Of Montreal were worth $5,051,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in Bank Of Montreal in the second quarter worth approximately $28,000. Western Wealth Management LLC bought a new stake in Bank Of Montreal in the first quarter worth $38,000. Pathway Financial Advisers LLC bought a new position in Bank Of Montreal during the third quarter valued at about $59,000. Highland Investment Advisors LLC bought a new position in Bank Of Montreal during the second quarter valued at about $63,000. Finally, Toth Financial Advisory Corp bought a new position in Bank Of Montreal during the third quarter valued at about $84,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Trading Up 1.7%

Shares of Bank Of Montreal stock opened at $174.01 on Tuesday. The company’s fifty day simple moving average is $170.47 and its 200-day simple moving average is $161.03. The company has a market cap of $120.36 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.95 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a 1 year low of $119.84 and a 1 year high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released 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 firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The business’s quarterly 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 EPS. As a group, sell-side analysts expect that Bank Of Montreal will post 10.65 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. Stockholders of record on Friday, October 30th will be issued a dividend of C$1.71 per share. The ex-dividend date is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. Bank Of Montreal’s payout ratio is presently 54.18%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating for the company. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research report on Friday, August 21st. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Hold” and an average target price of $244.00.

Bank Of Montreal Profile

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services.

BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.

Founded in Montreal in 1817, BMO is one of Canada’s oldest banks.