Cidel Asset Management Inc. Acquires 109,313 Shares of Bank Of Montreal $BMO

Cidel Asset Management Inc. increased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 513.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 130,608 shares of the bank’s stock after acquiring an additional 109,313 shares during the period. Cidel Asset Management Inc.’s holdings in Bank Of Montreal were worth $17,634,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BMO. WFA of San Diego LLC acquired a new stake in Bank Of Montreal in the 2nd quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Bank Of Montreal during the 4th quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after buying an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Bank Of Montreal in the 4th quarter valued at about $34,000. Finally, Swiss RE Ltd. bought a new position in shares of Bank Of Montreal in the 4th quarter valued at about $38,000. Institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BMO. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Finally, Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Trading Up 0.1%

Bank Of Montreal stock opened at $173.34 on Wednesday. The stock has a 50-day simple moving average of $158.48 and a 200 day simple moving average of $144.47. The stock has a market capitalization of $121.41 billion, a P/E ratio of 18.40, a PEG ratio of 0.97 and a beta of 0.95. 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 52 week low of $105.96 and a 52 week high of $174.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the prior year, the company earned $2.62 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, July 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is presently 50.96%.

Bank Of Montreal Profile

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.