Quantbot Technologies LP Takes $4.33 Million Position in Bank Of Montreal $BMO

Quantbot Technologies LP purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,489 shares of the bank’s stock, valued at approximately $4,327,000.

A number of other institutional investors and hedge funds have also modified their holdings of BMO. Jefferies Financial Group Inc. boosted its position in shares of Bank Of Montreal by 6,300.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after purchasing an additional 472,000 shares during the last quarter. Andra AP fonden bought a new stake in Bank Of Montreal in the first quarter valued at about $3,979,000. Tacita Capital Inc acquired a new position in Bank Of Montreal in the second quarter valued at about $1,518,000. Deutsche Bank AG bought a new position in Bank Of Montreal during the second quarter worth about $235,791,000. Finally, Vanguard Group Inc. grew its position in shares of Bank Of Montreal by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after buying an additional 673,248 shares during the period. 45.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research note on Friday. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a report on Friday. They set an “outperform” rating for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Finally, Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Trading Down 0.1%

NYSE:BMO opened at $174.34 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day simple moving average is $177.66 and its 200-day simple moving average is $158.42. Bank Of Montreal has a fifty-two week low of $112.58 and a fifty-two week high of $187.22. The stock has a market capitalization of $121.54 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.98 billion. During the same period in the prior year, the business earned $2.62 EPS. Bank Of Montreal’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Bank Of Montreal will post 10.49 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

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

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.