Swiss Life Asset Management Ltd Purchases 14,494 Shares of Bank Of Montreal $BMO

Swiss Life Asset Management Ltd raised its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,874 shares of the bank’s stock after purchasing an additional 14,494 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Bank Of Montreal were worth $13,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bank Of Montreal by 0.5% during the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock worth $4,214,676,000 after buying an additional 149,944 shares in the last quarter. Canerector Inc. lifted its stake in Bank Of Montreal by 18,035.0% in the 3rd quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock valued at $2,952,605,000 after acquiring an additional 22,543,750 shares in the last quarter. TD Asset Management Inc lifted its stake in Bank Of Montreal by 10.3% in the 3rd quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock valued at $2,486,691,000 after acquiring an additional 1,789,188 shares in the last quarter. Norges Bank acquired a new position in Bank Of Montreal during the 2nd quarter worth approximately $1,184,220,000. Finally, CIBC Asset Management Inc grew its stake in shares of Bank Of Montreal by 17.3% during the 3rd 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 in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Barclays cut shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a research note 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. Finally, Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bank Of Montreal currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $133.85 on Friday. The firm has a market capitalization of $94.53 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 0.94 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. The firm’s fifty day moving average price is $140.27 and its two-hundred day moving average price is $131.85. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $149.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. As a group, research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors 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 dividend on an annualized basis and a yield of 5.0%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 56.79%.

Bank Of Montreal Company 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.