PCJ Investment Counsel Ltd. purchased a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 44,040 shares of the bank's stock, valued at approximately $4,270,000. Bank of Montreal comprises approximately 1.4% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 16th biggest position.
Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc lifted its holdings in Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC lifted its holdings in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Bank of Montreal in the 4th quarter worth approximately $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal in the 3rd quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. lifted its holdings in Bank of Montreal by 140.9% in the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after purchasing an additional 358 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BMO has been the subject of several analyst reports. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada lifted their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of "Moderate Buy" and a consensus target price of $128.40.
Read Our Latest Report on BMO
Bank of Montreal Stock Performance
Shares of BMO traded up $1.73 on Wednesday, reaching $96.98. 883,383 shares of the stock traded hands, compared to its average volume of 633,383. The firm has a market cap of $70.68 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The stock's 50-day moving average price is $99.45 and its 200-day moving average price is $94.72.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. The business had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. Bank of Montreal's quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.56 earnings per share. Equities analysts forecast that Bank of Montreal will post 7.71 EPS for the current fiscal year.
Bank of Montreal Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) is 57.09%.
Bank of Montreal Company 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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