Elkfork Partners LLC Acquires Shares of 1,936 Bank of Montreal (BMO)

Elkfork Partners LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,936 shares of the bank’s stock, valued at approximately $155,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMO. Mackenzie Financial Corp increased its stake in shares of Bank of Montreal by 362.8% during the fourth quarter. Mackenzie Financial Corp now owns 13,605,288 shares of the bank’s stock valued at $1,088,695,000 after acquiring an additional 10,665,251 shares during the period. CIBC Asset Management Inc grew its position in Bank of Montreal by 31.2% in the fourth quarter. CIBC Asset Management Inc now owns 9,264,428 shares of the bank’s stock worth $744,482,000 after buying an additional 2,204,855 shares during the last quarter. Deutsche Bank AG grew its position in Bank of Montreal by 28.8% in the fourth quarter. Deutsche Bank AG now owns 2,055,102 shares of the bank’s stock worth $164,446,000 after buying an additional 459,717 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in Bank of Montreal by 35.7% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,661,300 shares of the bank’s stock worth $167,110,000 after buying an additional 437,284 shares during the last quarter. Finally, AGF Investments Inc. grew its position in Bank of Montreal by 48.5% in the fourth quarter. AGF Investments Inc. now owns 1,170,525 shares of the bank’s stock worth $93,670,000 after buying an additional 382,363 shares during the last quarter. Institutional investors and hedge funds own 43.96% of the company’s stock.

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Bank of Montreal stock opened at $75.47 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $48,498.77, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. Bank of Montreal has a 1 year low of $66.75 and a 1 year high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, February 27th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.45 billion. Bank of Montreal had a net margin of 16.69% and a return on equity of 13.85%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. sell-side analysts predict that Bank of Montreal will post 6.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 28th. Investors of record on Tuesday, May 1st will be paid a $0.755 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, April 30th. This represents a $3.02 dividend on an annualized basis and a yield of 4.00%. Bank of Montreal’s dividend payout ratio (DPR) is currently 46.96%.

BMO has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, February 6th. Macquarie upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 15th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bank of Montreal currently has an average rating of “Hold” and an average price target of $98.60.

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About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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