Corient Private Wealth LLC Has $2.51 Million Stock Position in Bank Of Montreal $BMO

Corient Private Wealth LLC boosted its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 30.2% during the 2nd quarter, Holdings Channel reports. The fund owned 22,684 shares of the bank’s stock after buying an additional 5,267 shares during the period. Corient Private Wealth LLC’s holdings in Bank Of Montreal were worth $2,510,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. Vanguard Group Inc. raised its position in shares of Bank Of Montreal by 3.9% during the second quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock worth $3,567,773,000 after purchasing an additional 1,196,237 shares during the period. Norges Bank acquired a new stake in Bank Of Montreal in the 2nd quarter valued at $1,184,220,000. Geode Capital Management LLC increased its stake in Bank Of Montreal by 19.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock valued at $655,674,000 after purchasing an additional 939,156 shares in the last quarter. Legal & General Group Plc increased its stake in Bank Of Montreal by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 4,348,743 shares of the bank’s stock valued at $480,988,000 after purchasing an additional 16,538 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Bank Of Montreal by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 4,096,926 shares of the bank’s stock worth $453,243,000 after buying an additional 158,442 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Natl Bk Canada cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. TD Securities reissued a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Raymond James Financial began coverage on shares of Bank Of Montreal in a report on Monday, November 24th. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

BMO opened at $129.74 on Tuesday. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $132.96. The company has a market capitalization of $92.01 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.08 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. The firm has a 50-day moving average price of $125.86 and a 200-day moving average price of $120.30.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results 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. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be paid a $1.67 dividend. The ex-dividend date is Friday, January 30th. This represents a $6.68 annualized dividend and a yield of 5.1%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is currently 57.35%.

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.