Candriam S.C.A. Acquires 34,605 Shares of Bank Of Montreal $BMO

Candriam S.C.A. lifted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,022 shares of the bank’s stock after buying an additional 34,605 shares during the quarter. Candriam S.C.A.’s holdings in Bank Of Montreal were worth $32,947,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. WFA of San Diego LLC acquired a new stake in Bank Of Montreal during the 2nd quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth $29,000. Larson Financial Group LLC increased its holdings in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Bank Of Montreal during the fourth quarter worth about $34,000. Finally, Swiss RE Ltd. acquired a new position in shares of Bank Of Montreal during the 4th quarter worth about $38,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMO. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Stock Up 1.4%

Shares of BMO stock traded up $2.42 during trading hours on Friday, hitting $179.08. 474,832 shares of the company were exchanged, compared to its average volume of 758,948. The business has a 50 day moving average of $165.05 and a two-hundred day moving average of $148.59. 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 52 week low of $109.64 and a 52 week high of $179.33. The company has a market capitalization of $125.43 billion, a PE ratio of 19.01, a PEG ratio of 1.00 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 EPS. Analysts anticipate that Bank Of Montreal will post 11.82 earnings per share 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. Stockholders of record on Thursday, July 30th will be given 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 3.8%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio 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.