DekaBank Deutsche Girozentrale raised its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 299,841 shares of the bank’s stock after purchasing an additional 34,040 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bank of Montreal were worth $24,787,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. BDO Wealth Advisors LLC bought a new position in shares of Bank of Montreal in the second quarter valued at approximately $105,000. AdvisorNet Financial Inc grew its holdings in shares of Bank of Montreal by 148.1% in the second quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after acquiring an additional 911 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Bank of Montreal in the third quarter valued at approximately $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Bank of Montreal in the second quarter valued at approximately $155,000. Finally, Columbia Asset Management bought a new position in shares of Bank of Montreal in the third quarter valued at approximately $161,000. 43.67% of the stock is owned by hedge funds and other institutional investors.
BMO has been the subject of several recent analyst reports. Zacks Investment Research lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Canaccord Genuity raised Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. ValuEngine lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $104.67.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 28th. The bank reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. Bank of Montreal had a return on equity of 14.75% and a net margin of 16.17%. Analysts anticipate that Bank of Montreal will post 6.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.7386 per share. This represents a $2.95 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is 46.79%.
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Bank of Montreal Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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