Caprock Group LLC Acquires Shares of 4,764 Bank Of Montreal $BMO

Caprock Group LLC bought a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,764 shares of the bank’s stock, valued at approximately $577,000.

Several other hedge funds have also modified their holdings of BMO. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 1,196,237 shares during the period. Norges Bank purchased a new stake in shares of Bank Of Montreal during the 2nd quarter worth $1,184,220,000. CIBC Asset Management Inc grew its stake in shares of Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after purchasing an additional 1,070,546 shares during the period. Geode Capital Management LLC increased its holdings in shares of Bank Of Montreal by 19.2% in 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. Finally, Legal & General Group Plc lifted its stake in shares of Bank Of Montreal by 0.4% in the second 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 during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on BMO shares. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $141.41 on Wednesday. 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 has a fifty-two week low of $85.40 and a fifty-two week high of $146.35. The business has a fifty day moving average of $135.17 and a 200-day moving average of $127.65. The stock has a market cap of $99.87 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS 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 for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts predict that Bank Of Montreal will post 7.71 earnings per share 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 given a $1.67 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, January 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 59.68%.

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.