1,000,300 Shares in Bank Of Montreal $BMO Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp bought a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,000,300 shares of the bank’s stock, valued at approximately $129,909,000. Alberta Investment Management Corp owned about 0.14% of Bank Of Montreal as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of BMO. WFA of San Diego LLC acquired a new stake in Bank Of Montreal during the second quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $29,000. Larson Financial Group LLC boosted its position in 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 during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $34,000. Finally, Swiss RE Ltd. acquired a new stake in Bank Of Montreal during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.0%

Shares of BMO opened at $168.36 on Tuesday. The firm has a market cap of $117.92 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The company’s fifty day moving average is $154.72 and its two-hundred day moving average is $142.54. Bank Of Montreal has a fifty-two week low of $104.08 and a fifty-two week high of $170.49. The company has a quick ratio of 1.02, a current 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 results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. Bank Of Montreal’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $2.62 EPS. Analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is 50.96%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BMO shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank upgraded shares of Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 1st. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.