55,318 Bank Of Montreal $BMO Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 418,389 shares of the bank’s stock after purchasing an additional 55,318 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Bank Of Montreal worth $70,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new position in Bank Of Montreal during the second quarter worth $1,281,220,000. TD Waterhouse Canada Inc. boosted its stake in shares of Bank Of Montreal by 2.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,350,903 shares of the bank’s stock valued at $1,128,680,000 after purchasing an additional 123,387 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $957,549,000. Bank of Nova Scotia acquired a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $920,002,000. Finally, Legal & General Group Plc bought a new stake in shares of Bank Of Montreal in the 2nd quarter worth about $744,214,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $174.01 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $120.36 billion, a P/E ratio of 19.64, a P/E/G ratio of 0.95 and a beta of 0.93. The business’s fifty day moving average is $170.47 and its two-hundred day moving average is $161.03. Bank Of Montreal has a 52 week low of $119.84 and a 52 week high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company posted $3.23 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Bank Of Montreal will post 10.65 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be issued a dividend of C$1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. Bank Of Montreal’s dividend payout ratio is currently 54.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They issued an “outperform” rating on the stock. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research report on Friday, August 21st. Canadian Imperial Bank of Commerce cut shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.