Cidel Asset Management Inc. Has $17.63 Million Stock Holdings in Bank Of Montreal $BMO

Cidel Asset Management Inc. boosted its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 513.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,608 shares of the bank’s stock after purchasing an additional 109,313 shares during the quarter. Cidel Asset Management Inc.’s holdings in Bank Of Montreal were worth $17,634,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Bank Of Montreal in the fourth quarter worth $29,000. Larson Financial Group LLC grew its holdings in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares during the period. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the 2nd quarter valued at $28,000. Flagship Harbor Advisors LLC bought a new stake in shares of Bank Of Montreal in the 4th quarter valued at $34,000. Finally, Swiss RE Ltd. bought a new stake in shares of Bank Of Montreal in the 4th quarter valued at $38,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO stock opened at $173.34 on Wednesday. The stock has a 50-day moving average price of $158.48 and a two-hundred day moving average price of $144.47. The stock has a market cap of $121.41 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 0.97 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 has a 1 year low of $105.96 and a 1 year high of $174.10.

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

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given 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 yield of 3.9%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is 50.96%.

Analyst Ratings Changes

BMO has been the topic of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Zacks Research downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bank Of Montreal presently 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.