Clearwater Capital Advisors LLC bought a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,446 shares of the bank’s stock, valued at approximately $202,000.
Several other institutional investors and hedge funds have also recently modified their holdings of BMO. Twin Tree Management LP lifted its position in Bank of Montreal by 180.9% in the 2nd quarter. Twin Tree Management LP now owns 57,533 shares of the bank’s stock valued at $4,445,000 after acquiring an additional 37,049 shares in the last quarter. Renaissance Technologies LLC lifted its position in Bank of Montreal by 89.6% in the 2nd quarter. Renaissance Technologies LLC now owns 909,295 shares of the bank’s stock valued at $70,268,000 after acquiring an additional 429,800 shares in the last quarter. Raymond James & Associates lifted its position in Bank of Montreal by 3.6% in the 2nd quarter. Raymond James & Associates now owns 107,650 shares of the bank’s stock valued at $8,319,000 after acquiring an additional 3,717 shares in the last quarter. Commonwealth Bank of Australia lifted its position in Bank of Montreal by 14.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 97,680 shares of the bank’s stock valued at $7,553,000 after acquiring an additional 12,095 shares in the last quarter. Finally, Bogart Wealth LLC lifted its position in Bank of Montreal by 4.1% in the 3rd quarter. Bogart Wealth LLC now owns 28,970 shares of the bank’s stock valued at $2,391,000 after acquiring an additional 1,149 shares in the last quarter. Institutional investors own 43.42% of the company’s stock.
BMO has been the topic of several recent research reports. ValuEngine cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Wednesday, July 18th. BMO Capital Markets raised shares of Bank of Montreal to a “$78.97” rating in a research report on Wednesday, July 18th. Finally, Canaccord Genuity raised shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $106.50.
Shares of Bank of Montreal stock traded down $0.74 during mid-day trading on Friday, hitting $74.83. 520,968 shares of the stock were exchanged, compared to its average volume of 895,950. Bank of Montreal has a 12 month low of $73.79 and a 12 month high of $84.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $48.49 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.24 and a beta of 1.10.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 28th. The bank reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.07. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. On average, equities analysts anticipate that Bank of Montreal will post 6.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.7386 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.95%. Bank of Montreal’s payout ratio is currently 46.79%.
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Bank of Montreal Company 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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