Bank of Montreal (BMO) Stake Increased by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lifted its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,945 shares of the bank’s stock after acquiring an additional 17,347 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Bank of Montreal were worth $12,292,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Ronna Sue Cohen raised its holdings in shares of Bank of Montreal by 1.8% in the second quarter. Ronna Sue Cohen now owns 35,814 shares of the bank’s stock valued at $2,630,000 after acquiring an additional 640 shares in the last quarter. Legacy Capital Partners Inc. raised its holdings in shares of Bank of Montreal by 1.0% in the second quarter. Legacy Capital Partners Inc. now owns 67,287 shares of the bank’s stock valued at $5,199,000 after acquiring an additional 650 shares in the last quarter. JCIC Asset Management Inc. raised its holdings in shares of Bank of Montreal by 7.9% in the third quarter. JCIC Asset Management Inc. now owns 9,956 shares of the bank’s stock valued at $822,000 after acquiring an additional 728 shares in the last quarter. Hugh Johnson Advisors LLC raised its holdings in shares of Bank of Montreal by 11.9% in the second quarter. Hugh Johnson Advisors LLC now owns 7,330 shares of the bank’s stock valued at $566,000 after acquiring an additional 782 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Bank of Montreal by 29.0% in the second quarter. Signaturefd LLC now owns 3,594 shares of the bank’s stock valued at $278,000 after acquiring an additional 809 shares in the last quarter. Hedge funds and other institutional investors own 43.11% of the company’s stock.

Several analysts recently weighed in on BMO shares. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Wednesday, July 18th. BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Finally, Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bank of Montreal has an average rating of “Buy” and an average target price of $101.00.

Bank of Montreal stock traded down $0.25 during trading hours on Friday, reaching $78.95. The stock had a trading volume of 106,510 shares, compared to its average volume of 410,398. The company has a market capitalization of $52.81 billion, a PE ratio of 12.77, a P/E/G ratio of 1.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.16. Bank of Montreal has a 52 week low of $73.79 and a 52 week high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 28th. The bank reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.07. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%. On average, equities analysts predict that Bank of Montreal will post 6.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be issued a $0.7386 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.95 dividend on an annualized basis and a yield of 3.74%. Bank of Montreal’s dividend payout ratio is presently 47.28%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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