Bank Of Montreal $BMO Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,279,855 shares of the bank’s stock after purchasing an additional 305,692 shares during the quarter. Bank Of Montreal comprises approximately 0.9% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 22nd largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.32% of Bank Of Montreal worth $297,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Bank Of Montreal by 18.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock worth $82,015,000 after buying an additional 114,458 shares during the last quarter. Citigroup Inc. raised its position in shares of Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock valued at $65,479,000 after buying an additional 134,699 shares during the period. Addenda Capital Inc. lifted its holdings in Bank Of Montreal by 9.5% in the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after acquiring an additional 63,432 shares during the last quarter. CIBC Asset Management Inc grew its position in Bank Of Montreal by 17.3% in the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after acquiring an additional 1,070,546 shares during the period. Finally, JCIC Asset Management Inc. purchased a new position in Bank Of Montreal in the third quarter worth approximately $7,939,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Trading Down 0.7%

BMO opened at $142.13 on Thursday. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $149.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $139.56 and a 200-day simple moving average of $131.03. The firm has a market cap of $100.38 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.99 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The firm had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 4.7%. Bank Of Montreal’s dividend payout ratio is 56.79%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMO. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Zacks Research upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Finally, TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.