Dynamic Technology Lab Private Ltd Invests $1.59 Million in Bank Of Montreal $BMO

Dynamic Technology Lab Private Ltd purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,270 shares of the bank’s stock, valued at approximately $1,593,000.

A number of other hedge funds also recently bought and sold shares of BMO. AQR Capital Management LLC boosted its position in Bank Of Montreal by 87.1% during the first 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. Arrowstreet Capital Limited Partnership purchased a new position in Bank Of Montreal during the second quarter worth approximately $1,018,000. Cerity Partners LLC boosted its position in Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after purchasing an additional 167 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Bank Of Montreal by 166.3% during the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after acquiring an additional 256,755 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Bank Of Montreal by 5,614.3% during the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after acquiring an additional 2,751 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO stock opened at $168.29 on Friday. The business has a fifty day moving average of $154.08 and a two-hundred day moving average of $142.09. 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 stock has a market cap of $117.87 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. Bank Of Montreal has a 52-week low of $104.08 and a 52-week high of $169.35.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $2.62 earnings per share. As a group, research analysts anticipate that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 50.96%.

Analysts Set New Price Targets

A number of brokerages have commented on BMO. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Scotiabank raised Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 1st. Finally, Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus target price 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.