Andra AP fonden Invests $3.98 Million in Bank Of Montreal $BMO

Andra AP fonden purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 29,400 shares of the bank’s stock, valued at approximately $3,979,000.

Several other hedge funds also recently bought and sold shares of BMO. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal in the fourth quarter worth $29,000. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 466.7% during 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 period. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal in the second quarter worth about $28,000. Flagship Harbor Advisors LLC bought a new position in shares of Bank Of Montreal in the fourth quarter worth about $34,000. Finally, Swiss RE Ltd. purchased a new position in Bank Of Montreal in the 4th quarter worth about $38,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.2%

NYSE:BMO opened at $179.12 on Thursday. The firm has a 50-day simple moving average of $169.54 and a 200-day simple moving average of $151.54. Bank Of Montreal has a one year low of $109.64 and a one year high of $184.21. The firm has a market cap of $125.45 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 12.60% and a return on equity of 13.04%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.62 earnings per share. Equities analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders 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 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

About Bank Of Montreal

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.