Burkett Asset Management Ltd Buys New Shares in Bank Of Montreal $BMO

Burkett Asset Management Ltd bought a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,700 shares of the bank’s stock, valued at approximately $3,082,000. Bank Of Montreal accounts for 3.1% of Burkett Asset Management Ltd’s holdings, making the stock its 11th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after buying an additional 673,248 shares during the period. Canerector Inc. lifted its holdings in Bank Of Montreal by 18,035.0% in the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock valued at $2,952,605,000 after buying an additional 22,543,750 shares during the period. TD Asset Management Inc lifted its holdings in Bank Of Montreal by 1.5% in the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock valued at $2,519,180,000 after buying an additional 293,575 shares during the period. Norges Bank acquired a new position in Bank Of Montreal in the fourth quarter valued at $1,059,320,000. Finally, Geode Capital Management LLC lifted its holdings in Bank Of Montreal by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock valued at $932,242,000 after buying an additional 442,812 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BMO shares. Weiss Ratings upgraded shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $166.66 on Friday. The firm’s 50-day moving average price is $153.46 and its 200-day moving average price is $141.91. Bank Of Montreal has a 1-year low of $104.08 and a 1-year high of $167.10. The firm has a market capitalization of $116.73 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.92 and a beta of 0.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the prior year, the business earned $2.62 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

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.