Morningstar Investment Management LLC Acquires Shares of 9,571 Bank Of Montreal $BMO

Morningstar Investment Management LLC acquired a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, Holdings Channel.com reports. The firm acquired 9,571 shares of the bank’s stock, valued at approximately $1,243,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after acquiring an additional 673,248 shares during the last quarter. Canerector Inc. increased its position in Bank Of Montreal by 18,035.0% during the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock valued at $2,952,605,000 after acquiring an additional 22,543,750 shares during the last quarter. TD Asset Management Inc increased its position in Bank Of Montreal by 10.3% during the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock valued at $2,486,691,000 after acquiring an additional 1,789,188 shares during the last quarter. Legal & General Group Plc increased its position in Bank Of Montreal by 4.1% during the third quarter. Legal & General Group Plc now owns 4,525,666 shares of the bank’s stock valued at $589,861,000 after acquiring an additional 176,923 shares during the last quarter. Finally, Fiera Capital Corp increased its position in Bank Of Montreal by 2.6% during the third quarter. Fiera Capital Corp now owns 3,967,220 shares of the bank’s stock valued at $516,291,000 after acquiring an additional 101,739 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of analyst reports. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Barclays cut shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday, March 20th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Monday, May 4th. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Finally, National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.1%

NYSE:BMO opened at $161.10 on Tuesday. Bank Of Montreal has a 1-year low of $102.70 and a 1-year high of $161.55. The company has a 50-day moving average of $146.16 and a 200 day moving average of $138.18. The firm has a market cap of $112.91 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. 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 released its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company had revenue of $7.21 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Bank Of Montreal will post 11.56 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s dividend payout ratio is 55.75%.

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.