7,660 Shares in Bank Of Montreal $BMO Purchased by State of Wyoming

State of Wyoming bought a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, HoldingsChannel.com reports. The fund bought 7,660 shares of the bank’s stock, valued at approximately $1,353,000.

Several other institutional investors have also recently bought and sold shares of the company. Bridgewater Advisors Inc. bought a new stake in Bank Of Montreal in the 2nd quarter valued at approximately $424,000. Redhawk Wealth Advisors Inc. grew its stake in shares of Bank Of Montreal by 3.2% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 10,791 shares of the bank’s stock worth $1,907,000 after acquiring an additional 333 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of Bank Of Montreal by 11.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 114,582 shares of the bank’s stock worth $20,245,000 after acquiring an additional 11,400 shares in the last quarter. Apella Capital LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $206,000. Finally, 55 North Private Wealth LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $271,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BMO shares. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bank Of Montreal has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Price Performance

NYSE:BMO opened at $185.75 on Friday. The stock has a market capitalization of $129.49 billion, a PE ratio of 19.72, a P/E/G ratio of 1.04 and a beta of 0.94. Bank Of Montreal has a 1-year low of $112.21 and a 1-year high of $185.86. The firm has a fifty day simple moving average of $176.43 and a 200 day simple moving average of $156.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.62 earnings per share. On average, research analysts expect that Bank Of Montreal will post 11.86 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.7%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

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.