Russell Investments Group Ltd. Acquires 67,223 Shares of Bank Of Montreal $BMO

Russell Investments Group Ltd. grew its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,391 shares of the bank’s stock after buying an additional 67,223 shares during the quarter. Russell Investments Group Ltd.’s holdings in Bank Of Montreal were worth $48,233,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after purchasing an additional 2,673 shares in the last quarter. Savant Capital LLC grew its holdings in Bank Of Montreal by 64.3% during the second quarter. Savant Capital LLC now owns 6,348 shares of the bank’s stock worth $702,000 after buying an additional 2,485 shares in the last quarter. Wedbush Securities Inc. raised its position in Bank Of Montreal by 4.5% in the 2nd quarter. Wedbush Securities Inc. now owns 3,091 shares of the bank’s stock valued at $342,000 after buying an additional 132 shares during the last quarter. AE Wealth Management LLC lifted its stake in Bank Of Montreal by 7.3% during the 2nd quarter. AE Wealth Management LLC now owns 3,182 shares of the bank’s stock valued at $352,000 after acquiring an additional 216 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in Bank Of Montreal by 11.5% during the 2nd quarter. Prospera Financial Services Inc now owns 3,383 shares of the bank’s stock worth $374,000 after acquiring an additional 348 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $142.13 on Thursday. The firm has a market cap of $100.38 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.99 and a beta of 0.92. 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 has a 52 week low of $85.40 and a 52 week high of $149.01. The firm’s 50-day simple moving average is $139.56 and its two-hundred day simple moving average is $131.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The firm had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the prior year, the firm earned $3.04 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 4.7%. Bank Of Montreal’s dividend payout ratio is presently 56.79%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMO shares. Zacks Research upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Finally, Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.