JPMorgan Chase & Co. Decreases Stock Position in Bank Of Montreal $BMO

JPMorgan Chase & Co. lessened its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,034,186 shares of the bank’s stock after selling 62,740 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bank Of Montreal were worth $525,453,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Bank Of Montreal by 18.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock worth $82,015,000 after purchasing an additional 114,458 shares during the last quarter. Addenda Capital Inc. increased its position in shares of Bank Of Montreal by 9.5% in the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after buying an additional 63,432 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Bank Of Montreal by 17.3% in the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after buying an additional 1,070,546 shares in the last quarter. JCIC Asset Management Inc. acquired a new position in shares of Bank Of Montreal during the 3rd quarter worth $7,939,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its position in shares of 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 buying an additional 44,618 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

NYSE BMO opened at $142.57 on Thursday. The business’s 50-day moving average price is $135.43 and its 200 day moving average price is $127.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $146.35. The company has a market capitalization of $100.69 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.14 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 net margin of 11.13% and a return on equity of 11.76%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be issued a $1.67 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. Bank Of Montreal’s dividend payout ratio (DPR) is 59.68%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. 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 raised Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Finally, National Bank Financial downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

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.