Bank Of Montreal $BMO Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 90.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,177 shares of the bank’s stock after acquiring an additional 3,413 shares during the period. Mediolanum International Funds Ltd’s holdings in Bank Of Montreal were worth $945,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BMO. Jefferies Financial Group Inc. lifted its holdings in shares of Bank Of Montreal by 6,300.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock valued at $62,233,000 after purchasing an additional 472,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Bank Of Montreal by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after purchasing an additional 673,248 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Bank Of Montreal by 16.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock worth $21,484,000 after purchasing an additional 23,113 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Bank Of Montreal by 2,127.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after buying an additional 333,994 shares during the period. Finally, Generali Asset Management SPA SGR lifted its stake in Bank Of Montreal by 15.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 86,672 shares of the bank’s stock valued at $11,249,000 after buying an additional 11,320 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Trading Up 0.4%

NYSE:BMO opened at $178.76 on Wednesday. The stock has a market cap of $125.20 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. Bank Of Montreal has a fifty-two week low of $109.64 and a fifty-two week high of $184.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $168.96 and its two-hundred day moving average is $151.20.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly 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 business had revenue of $7.04 billion during the quarter, compared to analyst estimates 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 revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.62 earnings per share. As a group, equities research analysts forecast that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 51.06%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $163.00.

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.