Bank Of Montreal $BMO Holdings Boosted by Barometer Capital Management Inc.

by · The Markets Daily

Barometer Capital Management Inc. raised its holdings in shares of Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 29.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,572 shares of the bank’s stock after buying an additional 23,850 shares during the period. Bank Of Montreal comprises 3.5% of Barometer Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Barometer Capital Management Inc.’s holdings in Bank Of Montreal were worth $11,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming lifted its position in Bank Of Montreal by 237.4% during the first quarter. State of Wyoming now owns 14,254 shares of the bank’s stock valued at $1,361,000 after purchasing an additional 10,029 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Bank Of Montreal by 66.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after buying an additional 1,469,084 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bank Of Montreal during the 1st quarter valued at about $1,886,000. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Bank Of Montreal by 24.1% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 92,014 shares of the bank’s stock valued at $10,204,000 after acquiring an additional 17,883 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in Bank Of Montreal by 7.9% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 607,701 shares of the bank’s stock worth $67,389,000 after acquiring an additional 44,618 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMO. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. TD Securities restated a “hold” rating on shares of Bank Of Montreal in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank Of Montreal in a report on Thursday. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $163.00.

Read Our Latest Stock Analysis on Bank Of Montreal

Bank Of Montreal Stock Down 0.3%

Shares of BMO stock opened at $131.65 on Friday. The company’s fifty day simple moving average is $125.55 and its two-hundred day simple moving average is $119.17. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $132.96. The stock has a market cap of $93.68 billion, a P/E ratio of 16.13, a PEG ratio of 1.10 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last issued its earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.20. The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Analysts predict 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. Stockholders of record on Friday, January 30th will be issued a dividend of $1.67 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, January 30th. This represents a $6.68 annualized dividend and a dividend yield of 5.1%. Bank Of Montreal’s payout ratio is currently 58.58%.

Bank Of Montreal Company Profile

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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