Bank Of Montreal $BMO Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,279,855 shares of the bank’s stock after buying an additional 305,692 shares during the period. Bank Of Montreal makes up approximately 0.9% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 22nd largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bank Of Montreal were worth $297,018,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Bank Of Montreal by 18.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock valued at $82,015,000 after acquiring an additional 114,458 shares in the last quarter. Citigroup Inc. grew its stake in Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock worth $65,479,000 after purchasing an additional 134,699 shares in the last quarter. Addenda Capital Inc. grew its stake in Bank Of Montreal by 9.5% during the 3rd quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock worth $95,684,000 after purchasing an additional 63,432 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after purchasing an additional 1,070,546 shares during the period. Finally, JCIC Asset Management Inc. acquired a new stake in Bank Of Montreal in the 3rd quarter valued at about $7,939,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Trading Down 0.7%

BMO opened at $142.13 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a one year low of $85.40 and a one year high of $149.01. The company has a market cap of $100.38 billion, a P/E ratio of 16.51, a PEG ratio of 0.99 and a beta of 0.92. The business’s 50-day simple moving average is $139.56 and its 200-day simple moving average is $131.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. The firm had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. As a group, equities research analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be issued 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 4.7%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 56.79%.

Wall Street Analysts Forecast Growth

BMO has been the subject of several recent research reports. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Zacks Research raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. 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. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.