Cumberland Partners Ltd Acquires 19,381 Shares of Bank Of Montreal $BMO

Cumberland Partners Ltd grew its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 89.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,008 shares of the bank’s stock after buying an additional 19,381 shares during the period. Cumberland Partners Ltd’s holdings in Bank Of Montreal were worth $5,329,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BMO. AQR Capital Management LLC boosted its holdings in shares of Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after buying an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $1,018,000. Cerity Partners LLC boosted its holdings in shares of Bank Of Montreal by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock valued at $1,368,000 after buying an additional 167 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Bank Of Montreal by 166.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after buying an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Bank Of Montreal by 5,614.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after buying an additional 2,751 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

NYSE BMO opened at $161.10 on Friday. Bank Of Montreal has a 52 week low of $102.70 and a 52 week high of $161.55. The firm has a market capitalization of $112.91 billion, a P/E ratio of 18.71, a PEG ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $145.72 and a 200-day moving average price of $137.81.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.73 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Bank Of Montreal will post 11.56 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio (DPR) is 55.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Monday, May 4th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Barclays downgraded shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Company Profile

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.