Baltimore Capital Management Inc. bought a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 19,781 shares of the bank’s stock, valued at approximately $1,480,000. Bank of Montreal accounts for approximately 2.4% of Baltimore Capital Management Inc.’s holdings, making the stock its 13th biggest position.
Several other hedge funds have also made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its stake in shares of Bank of Montreal by 1.5% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 13,260 shares of the bank’s stock worth $992,000 after buying an additional 190 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Bank of Montreal by 5.2% during the 1st quarter. Quadrant Capital Group LLC now owns 3,832 shares of the bank’s stock worth $283,000 after buying an additional 190 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Bank of Montreal by 3.7% during the 1st quarter. Evergreen Capital Management LLC now owns 5,491 shares of the bank’s stock worth $411,000 after buying an additional 195 shares during the period. FDx Advisors Inc. raised its stake in shares of Bank of Montreal by 5.2% during the 4th quarter. FDx Advisors Inc. now owns 4,254 shares of the bank’s stock worth $278,000 after buying an additional 210 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Bank of Montreal by 1.9% during the 4th quarter. King Luther Capital Management Corp now owns 11,698 shares of the bank’s stock worth $764,000 after buying an additional 218 shares during the period. 42.13% of the stock is owned by institutional investors and hedge funds.
NYSE BMO opened at $74.30 on Thursday. Bank of Montreal has a one year low of $62.79 and a one year high of $84.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $47.68 billion, a P/E ratio of 10.63, a PEG ratio of 2.15 and a beta of 1.18.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 29th. The bank reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.03. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.60 billion. Bank of Montreal had a return on equity of 14.54% and a net margin of 17.27%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. On average, sell-side analysts forecast that Bank of Montreal will post 7.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Thursday, August 1st will be issued a $0.769 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, July 31st. Bank of Montreal’s dividend payout ratio is presently 42.78%.
Several research analysts have recently weighed in on the company. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Friday, May 17th. Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Scotia Howard Weill reissued a “sector perform” rating on shares of Bank of Montreal in a research note on Thursday, May 30th. Finally, Howard Weil downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Bank of Montreal presently has an average rating of “Hold” and an average price target of $105.33.
TRADEMARK VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2019/06/13/baltimore-capital-management-inc-invests-1-48-million-in-bank-of-montreal-nysebmo.html.
Bank of Montreal Profile
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, 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, as well as wealth management products and services, such as insurance products.
Read More: How accurate is the Rule of 72?
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.