Bank Of Montreal $BMO Stock Position Raised by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,495,672 shares of the bank’s stock after purchasing an additional 228,210 shares during the period. Bank Of Montreal comprises about 0.8% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 24th biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned 0.50% of Bank Of Montreal worth $473,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. Jefferies Financial Group Inc. lifted its stake in Bank Of Montreal by 6,300.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after acquiring an additional 472,000 shares in the last quarter. Andra AP fonden purchased a new position in Bank Of Montreal during the 1st quarter valued at about $3,979,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Bank Of Montreal by 16.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock valued at $21,484,000 after purchasing an additional 23,113 shares during the period. Vanguard Group Inc. increased its holdings in shares of Bank Of Montreal by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after purchasing an additional 673,248 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after purchasing an additional 333,994 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Trading Up 0.7%

Bank Of Montreal stock opened at $177.84 on Friday. Bank Of Montreal has a one year low of $109.64 and a one year high of $184.21. The company’s fifty day moving average price is $170.52 and its two-hundred day moving average price is $152.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $124.56 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.99 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share 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 analysts’ expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.62 earnings per share. On average, analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is 51.06%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BMO shares. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Finally, Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $163.00.

About Bank Of Montreal

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.