Bank Of Montreal $BMO Shares Bought by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA lifted its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 350.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,196 shares of the bank’s stock after acquiring an additional 37,500 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Bank Of Montreal were worth $6,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Canerector Inc. lifted its holdings in shares of Bank Of Montreal by 18,035.0% in the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock valued at $2,952,605,000 after buying an additional 22,543,750 shares during the period. Norges Bank acquired a new stake in shares of Bank Of Montreal in the fourth quarter valued at $1,059,320,000. TD Asset Management Inc lifted its holdings in shares of Bank Of Montreal by 10.3% in the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock valued at $2,486,691,000 after buying an additional 1,789,188 shares during the period. Morgan Stanley lifted its holdings in shares of Bank Of Montreal by 74.4% in the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock valued at $495,461,000 after buying an additional 1,628,318 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock valued at $277,091,000 after buying an additional 1,294,169 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Trading Up 0.7%

Shares of NYSE BMO opened at $169.56 on Wednesday. Bank Of Montreal has a 12 month low of $104.08 and a 12 month high of $170.98. The company has a market cap of $118.76 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 0.94 and a beta of 0.95. 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 business has a fifty day simple moving average of $155.39 and a 200-day simple moving average of $142.86.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the prior year, the business posted $2.62 earnings per share. Bank Of Montreal’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. Bank Of Montreal’s payout ratio is currently 50.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BMO shares. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of “Hold” and an average 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.