Fulton Bank N.A. Has $522,000 Stock Position in Bank Of Montreal $BMO

Fulton Bank N.A. reduced its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 59.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,952 shares of the bank’s stock after selling 4,347 shares during the quarter. Fulton Bank N.A.’s holdings in Bank Of Montreal were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after acquiring an additional 673,248 shares during the period. TD Asset Management Inc increased its stake in shares of Bank Of Montreal by 1.5% during the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock worth $2,519,180,000 after purchasing an additional 293,575 shares during the period. FIL Ltd increased its stake in shares of Bank Of Montreal by 15.2% during the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after purchasing an additional 1,245,500 shares during the period. Norges Bank acquired a new stake in Bank Of Montreal during the 4th quarter worth approximately $1,059,320,000. Finally, Geode Capital Management LLC lifted its holdings in Bank Of Montreal by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after purchasing an additional 442,812 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $184.14 on Friday. The stock has a fifty day moving average price of $176.00 and a 200-day moving average price of $156.69. The company has a market cap of $128.37 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a fifty-two week low of $112.21 and a fifty-two week high of $184.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same period in the prior year, the firm posted $2.62 EPS. Bank Of Montreal’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Bank Of Montreal will post 11.86 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. 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 yield of 3.7%. Bank Of Montreal’s dividend payout ratio is currently 51.06%.

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.