TD Asset Management Inc Has $2.49 Billion Position in Bank Of Montreal $BMO

TD Asset Management Inc raised its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,079,026 shares of the bank’s stock after buying an additional 1,789,188 shares during the period. Bank Of Montreal makes up approximately 2.0% of TD Asset Management Inc’s holdings, making the stock its 7th biggest holding. TD Asset Management Inc’s holdings in Bank Of Montreal were worth $2,486,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank Of Montreal during the second quarter valued at $1,184,220,000. Public Sector Pension Investment Board increased its stake in Bank Of Montreal by 2,986.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock worth $240,009,000 after buying an additional 2,099,800 shares during the period. Vanguard Group Inc. lifted its holdings in Bank Of Montreal by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock valued at $3,567,773,000 after buying an additional 1,196,237 shares in the last quarter. CIBC Asset Management Inc boosted its position in Bank Of Montreal by 17.3% in the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after buying an additional 1,070,546 shares during the period. Finally, Geode Capital Management LLC boosted its position in Bank Of Montreal by 19.2% in the 2nd quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock valued at $655,674,000 after buying an additional 939,156 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.0%

Shares of NYSE BMO opened at $142.36 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $100.54 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The stock’s fifty day simple moving average is $136.39 and its two-hundred day simple moving average is $128.75. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $147.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a dividend yield of 4.7%. Bank Of Montreal’s payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BMO shares. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Zacks Research upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Raymond James Financial raised Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday, February 13th. National Bank Financial downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.00.

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.