Cumberland Partners Ltd Boosts Holdings in Bank Of Montreal $BMO

Cumberland Partners Ltd grew its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 89.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,008 shares of the bank’s stock after acquiring an additional 19,381 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank Of Montreal were worth $5,329,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal during the second quarter worth approximately $28,000. Flagship Harbor Advisors LLC purchased a new position in shares of Bank Of Montreal during the fourth quarter worth approximately $34,000. Sunbelt Securities Inc. purchased a new position in shares of Bank Of Montreal during the third quarter worth approximately $42,000. Finally, Bayforest Capital Ltd raised its stake in shares of Bank Of Montreal by 669.6% during the fourth quarter. Bayforest Capital Ltd now owns 354 shares of the bank’s stock worth $46,000 after acquiring an additional 308 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMO has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Up 0.9%

Shares of Bank Of Montreal stock opened at $161.10 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $145.72 and its two-hundred day simple moving average is $137.81. The company has a market cap of $112.91 billion, a P/E ratio of 18.71, a PEG ratio of 0.90 and a beta of 0.94. Bank Of Montreal has a 12-month low of $102.70 and a 12-month high of $161.55.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 EPS. Research analysts anticipate that Bank Of Montreal will post 11.56 EPS for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s payout ratio is presently 55.75%.

About Bank Of Montreal

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.