Puzo Michael J Takes Position in Bank Of Montreal $BMO

Puzo Michael J acquired a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,500 shares of the bank’s stock, valued at approximately $618,000.

Several other large investors have also made changes to their positions in the business. Edmond DE Rothschild Holding S.A. bought a new stake in Bank Of Montreal during the 2nd quarter valued at approximately $28,000. Madison Asset Management LLC acquired a new stake in Bank Of Montreal in the 2nd quarter valued at approximately $301,000. Johnson Financial Group Inc. bought a new position in Bank Of Montreal in the 2nd quarter worth approximately $201,000. West Family Investments Inc. bought a new position in Bank Of Montreal in the 2nd quarter worth approximately $422,000. Finally, Tacita Capital Inc acquired a new position in shares of Bank Of Montreal during the second quarter worth approximately $1,518,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $175.77 on Thursday. The firm has a market capitalization of $122.54 billion, a PE ratio of 18.66, a PEG ratio of 1.15 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 1-year low of $112.21 and a 1-year high of $187.22. The business’s 50 day moving average is $177.42 and its 200-day moving average is $157.91.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates 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%.Bank Of Montreal’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.62 earnings per share. Sell-side analysts predict that Bank Of Montreal will post 10.54 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is currently 51.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BMO shares. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal 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.