Bank Of Montreal $BMO Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 104.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,484 shares of the bank’s stock after buying an additional 4,834 shares during the period. HB Wealth Management LLC’s holdings in Bank Of Montreal were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMO. Private Advisor Group LLC grew its holdings in shares of Bank Of Montreal by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 20,944 shares of the bank’s stock worth $2,835,000 after acquiring an additional 226 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Bank Of Montreal during the first quarter worth $5,848,000. Keybank National Association OH boosted its position in Bank Of Montreal by 26.4% during the first quarter. Keybank National Association OH now owns 11,755 shares of the bank’s stock worth $1,591,000 after purchasing an additional 2,458 shares in the last quarter. USS Investment Management Ltd boosted its position in Bank Of Montreal by 1.0% during the first quarter. USS Investment Management Ltd now owns 110,275 shares of the bank’s stock worth $14,898,000 after purchasing an additional 1,126 shares in the last quarter. Finally, KOM Wealth Management Group LLC acquired a new stake in Bank Of Montreal in the first quarter valued at $206,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BMO shares. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Up 1.3%

BMO opened at $178.32 on Wednesday. The firm has a market cap of $124.90 billion, a P/E ratio of 18.93, a PEG ratio of 0.99 and a beta of 0.93. The business’s fifty day simple moving average is $163.48 and its 200 day simple moving average is $147.73. Bank Of Montreal has a 52 week low of $109.64 and a 52 week high of $179.33. 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 earnings results 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 during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the previous year, the company posted $2.62 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. Bank Of Montreal’s payout ratio is currently 50.96%.

Bank Of Montreal 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.