Capital Wealth Planning LLC Buys 79,980 Shares of Bank Of Montreal $BMO

Capital Wealth Planning LLC lifted its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 475.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,785 shares of the bank’s stock after acquiring an additional 79,980 shares during the period. Capital Wealth Planning LLC’s holdings in Bank Of Montreal were worth $12,795,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Code Waechter LLC raised its position in shares of Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after acquiring an additional 75 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock worth $41,000 after acquiring an additional 79 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of Bank Of Montreal by 0.5% in the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after acquiring an additional 80 shares in the last quarter. Allworth Financial LP raised its position in shares of Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock worth $276,000 after acquiring an additional 94 shares in the last quarter. Finally, Choreo LLC raised its position in shares of Bank Of Montreal by 3.6% in the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank’s stock worth $356,000 after acquiring an additional 95 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Trading Down 0.4%

Shares of NYSE:BMO opened at $164.55 on Thursday. The business’s 50-day moving average is $152.83 and its 200 day moving average is $141.59. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $167.07. The firm has a market capitalization of $115.25 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.92 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating 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 company posted $2.62 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost 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 4.2%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is currently 50.96%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Finally, TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and a consensus price target 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.