Susquehanna Fundamental Investments LLC Increases Holdings in Bank Of Montreal $BMO

Susquehanna Fundamental Investments LLC grew its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 222.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 287,700 shares of the bank’s stock after purchasing an additional 198,600 shares during the quarter. Bank Of Montreal comprises 1.0% of Susquehanna Fundamental Investments LLC’s holdings, making the stock its 21st biggest position. Susquehanna Fundamental Investments LLC’s holdings in Bank Of Montreal were worth $50,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in 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 purchasing an additional 2,673 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Bank Of Montreal in the second quarter worth $1,018,000. Cerity Partners LLC lifted its holdings in shares of Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock valued at $1,368,000 after purchasing an additional 167 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Bank Of Montreal by 166.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock worth $45,518,000 after buying an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock worth $310,000 after buying an additional 2,751 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Up 0.1%

NYSE BMO opened at $172.06 on Monday. Bank Of Montreal has a 52 week low of $118.66 and a 52 week high of $187.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $119.95 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The stock’s 50-day moving average price is $177.93 and its 200-day moving average price is $159.51.

Bank Of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a yield of 4.0%. Bank Of Montreal’s payout ratio is currently 54.29%.

Analysts Set New Price Targets

BMO has been the subject of several research reports. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.