Purpose Unlimited Inc. Purchases New Stake in Bank Of Montreal $BMO

Purpose Unlimited Inc. acquired a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 301,031 shares of the bank’s stock, valued at approximately $39,094,000. Bank Of Montreal comprises approximately 1.8% of Purpose Unlimited Inc.’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently bought and sold shares of BMO. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Bank Of Montreal in the fourth quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after purchasing an additional 196 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth approximately $34,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth approximately $38,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMO. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Down 0.0%

BMO stock opened at $170.80 on Friday. The stock has a market capitalization of $119.63 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 0.96 and a beta of 0.95. The company has a 50-day moving average of $157.29 and a two-hundred day moving average of $143.67. Bank Of Montreal has a 52-week low of $104.08 and a 52-week high of $173.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.62 EPS. As a group, equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 50.96%.

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.