Bank Of Montreal $BMO is Canerector Inc.’s 3rd Largest Position

Canerector Inc. boosted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 18,035.0% in the third quarter, HoldingsChannel reports. The fund owned 22,668,750 shares of the bank’s stock after buying an additional 22,543,750 shares during the quarter. Bank Of Montreal accounts for 5.7% of Canerector Inc.’s portfolio, making the stock its 3rd biggest holding. Canerector Inc.’s holdings in Bank Of Montreal were worth $2,952,605,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in shares of Bank Of Montreal during the third quarter worth approximately $28,000. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $28,000. Toth Financial Advisory Corp purchased a new position in shares of Bank Of Montreal during the 3rd quarter valued at $52,000. Smartleaf Asset Management LLC increased its stake in shares of Bank Of Montreal by 107.7% in the third quarter. Smartleaf Asset Management LLC now owns 407 shares of the bank’s stock worth $53,000 after acquiring an additional 211 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Bank Of Montreal during the second quarter worth $61,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 1.1%

Shares of Bank Of Montreal stock opened at $143.86 on Wednesday. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $149.01. 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 50 day moving average price of $138.05 and a two-hundred day moving average price of $129.89. The stock has a market capitalization of $101.60 billion, a P/E ratio of 16.71, a PEG ratio of 1.00 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. Bank Of Montreal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 earnings per share. Equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 4.6%. Bank Of Montreal’s payout ratio is currently 56.56%.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Raymond James Financial upgraded shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Finally, Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” 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.