Bank Of Montreal $BMO Stock Position Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 418,389 shares of the bank’s stock after buying an additional 55,318 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Bank Of Montreal were worth $70,128,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $1,281,220,000. Caisse de depot et placement du Quebec bought a new stake in shares of Bank Of Montreal during the second quarter worth $957,549,000. Bank of Nova Scotia acquired a new position in shares of Bank Of Montreal during the second quarter valued at $920,002,000. Legal & General Group Plc acquired a new position in shares of Bank Of Montreal during the second quarter valued at $744,214,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Bank Of Montreal during the second quarter valued at $677,074,000. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $174.01 on Tuesday. The firm has a fifty day moving average of $170.47 and a two-hundred day moving average of $161.03. The stock has a market capitalization of $120.36 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.95 and a beta of 0.93. Bank Of Montreal has a 52 week low of $119.84 and a 52 week high of $187.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Bank Of Montreal will post 10.65 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a C$1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is currently 54.18%.

Wall Street Analyst Weigh In

BMO has been the topic of several recent research reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday, August 27th. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, August 18th. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating for the company. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $244.00.

About Bank Of Montreal

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services.

BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.

Founded in Montreal in 1817, BMO is one of Canada’s oldest banks.