Russell Investments Group Ltd. Has $48.23 Million Stake in Bank Of Montreal $BMO

Russell Investments Group Ltd. increased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 370,391 shares of the bank’s stock after acquiring an additional 67,223 shares during the period. Russell Investments Group Ltd. owned about 0.05% of Bank Of Montreal worth $48,233,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in 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 purchasing 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 third quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock worth $65,479,000 after acquiring an additional 134,699 shares during the last quarter. Addenda Capital Inc. lifted its stake in shares of Bank Of Montreal by 9.5% in the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock worth $95,684,000 after acquiring an additional 63,432 shares during the period. CIBC Asset Management Inc boosted its holdings 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 valued at $949,441,000 after acquiring an additional 1,070,546 shares during the last quarter. Finally, JCIC Asset Management Inc. acquired a new stake in Bank Of Montreal during the 3rd quarter valued at approximately $7,939,000. 45.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Raymond James Financial raised Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Finally, Zacks Research raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Trading Down 0.7%

BMO opened at $142.13 on Thursday. The company has a fifty day moving average price of $139.56 and a two-hundred day moving average price of $131.03. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $149.01. The company has a market cap of $100.38 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. 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 released its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

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

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.