Mariner LLC lifted its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,178 shares of the bank's stock after acquiring an additional 3,709 shares during the period. Mariner LLC's holdings in Bank of Montreal were worth $4,870,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Bank of Montreal during the fourth quarter valued at about $1,014,633,000. Federated Hermes Inc. boosted its position in shares of Bank of Montreal by 1,527.7% during the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock worth $112,626,000 after purchasing an additional 1,089,199 shares during the period. Geode Capital Management LLC increased its holdings in Bank of Montreal by 29.4% in the 4th quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank's stock valued at $422,450,000 after purchasing an additional 975,777 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Bank of Montreal in the fourth quarter valued at approximately $760,000. Finally, Beutel Goodman & Co Ltd. lifted its stake in Bank of Montreal by 11.9% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,616,614 shares of the bank's stock worth $642,016,000 after purchasing an additional 704,197 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.
Bank of Montreal Stock Up 0.0 %
NYSE BMO traded up $0.03 on Wednesday, hitting $94.13. 745,584 shares of the stock were exchanged, compared to its average volume of 870,456. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $106.00. The company has a 50-day moving average price of $96.52 and a 200-day moving average price of $96.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market cap of $68.15 billion, a PE ratio of 13.49, a PEG ratio of 1.43 and a beta of 0.95.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the firm posted $2.56 earnings per share. The company's revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.
Bank of Montreal Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.71%. Bank of Montreal's payout ratio is currently 57.35%.
Analyst Ratings Changes
Several research firms recently issued reports on BMO. CIBC downgraded Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Royal Bank of Canada upped their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $128.40.
Get Our Latest Stock Report on Bank of Montreal
Bank of Montreal Profile
(
Free Report)
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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