Dixon Mitchell Investment Counsel Inc. Acquires Shares of 3,662 Bank Of Montreal $BMO

Dixon Mitchell Investment Counsel Inc. acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,662 shares of the bank’s stock, valued at approximately $476,000.

A number of other institutional investors also recently bought and sold shares of the business. Code Waechter LLC increased its stake in Bank Of Montreal by 1.7% in the fourth quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after purchasing an additional 75 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Bank Of Montreal by 33.2% in the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in shares of Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after acquiring an additional 80 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Bank Of Montreal by 4.6% in the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after acquiring an additional 94 shares in the last quarter. Finally, Choreo LLC boosted its holdings in shares of Bank Of Montreal by 3.6% in the third quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after acquiring an additional 95 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Stock Performance

Shares of BMO opened at $168.29 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market cap of $117.87 billion, a P/E ratio of 17.86, a PEG ratio of 0.94 and a beta of 0.95. The company has a 50-day moving average of $154.08 and a two-hundred day moving average of $142.09. Bank Of Montreal has a 12-month low of $104.08 and a 12-month high of $169.35.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced 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. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.62 earnings per share. As a group, research analysts predict that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be given a $1.71 dividend. This is a boost 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 4.1%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 50.96%.

Analyst Upgrades and Downgrades

BMO has been the topic of several analyst reports. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank raised shares of Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bank Of Montreal has a consensus rating of “Hold” 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.