TD Waterhouse Canada Inc. Has $308.31 Million Stock Position in Bank Of Montreal $BMO

TD Waterhouse Canada Inc. lifted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,376,897 shares of the bank’s stock after purchasing an additional 94,377 shares during the period. Bank Of Montreal comprises approximately 2.0% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 7th largest holding. TD Waterhouse Canada Inc.’s holdings in Bank Of Montreal were worth $308,312,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Bank Of Montreal by 87.1% in the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after buying an additional 2,673 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Bank Of Montreal by 0.9% during the 2nd quarter. Gold Investment Management Ltd. now owns 22,427 shares of the bank’s stock worth $2,486,000 after acquiring an additional 210 shares during the period. Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of Bank Of Montreal in the 2nd quarter worth approximately $2,107,000. Ascent Group LLC raised its position in shares of Bank Of Montreal by 3.5% in the 2nd quarter. Ascent Group LLC now owns 2,756 shares of the bank’s stock worth $305,000 after acquiring an additional 92 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Bank Of Montreal by 2.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 30,802 shares of the bank’s stock valued at $3,408,000 after purchasing an additional 779 shares during the period. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the subject of a number of research reports. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Friday, January 9th. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They set a “market perform” rating on the stock. Finally, Natl Bk Canada downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $139.32 on Thursday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $140.58. The firm’s 50-day moving average is $130.62 and its 200 day moving average is $124.83. The stock has a market cap of $98.58 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.14 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. Bank Of Montreal’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. Sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, January 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) is presently 57.35%.

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.