Tacita Capital Inc Takes $1.52 Million Position in Bank Of Montreal $BMO

Tacita Capital Inc acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,605 shares of the bank’s stock, valued at approximately $1,518,000. Bank Of Montreal makes up approximately 0.8% of Tacita Capital Inc’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in BMO. WFA of San Diego LLC bought a new position in Bank Of Montreal during the 2nd quarter worth about $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Bank Of Montreal in the 4th quarter valued at about $29,000. Larson Financial Group LLC raised its holdings in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $38,000. Finally, Swiss RE Ltd. bought a new position in shares of Bank Of Montreal during the fourth quarter valued at approximately $38,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

NYSE BMO opened at $175.77 on Thursday. The firm’s fifty day simple moving average is $177.42 and its two-hundred day simple moving average is $157.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12-month low of $112.21 and a 12-month high of $187.22. The firm has a market capitalization of $122.54 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.15 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the prior year, the firm posted $2.62 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that Bank Of Montreal will post 10.54 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a yield of 3.9%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 51.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.