Gateway Wealth Partners LLC Purchases New Shares in Bank Of Montreal $BMO

Gateway Wealth Partners LLC purchased a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,260 shares of the bank’s stock, valued at approximately $441,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Code Waechter LLC boosted its holdings in shares of Bank Of Montreal by 1.7% in the fourth quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after buying an additional 75 shares during the period. Larson Financial Group LLC increased its position 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 worth $41,000 after acquiring an additional 79 shares in the last quarter. Naples Global Advisors LLC raised its holdings in shares of Bank Of Montreal by 0.5% during 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 during the period. Checchi Capital Advisers LLC raised its holdings in shares of Bank Of Montreal by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock valued at $425,000 after acquiring an additional 88 shares during the period. Finally, Turn8 Private Wealth Inc. lifted its position in shares of Bank Of Montreal by 0.8% in the 1st quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock valued at $1,514,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

BMO stock opened at $179.51 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $125.43 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.00 and a beta of 0.93. The firm has a 50 day simple moving average of $172.64 and a 200 day simple moving average of $153.63. Bank Of Montreal has a 52 week low of $109.64 and a 52 week high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same period in the previous year, the firm posted $2.62 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is presently 51.06%.

Analysts Set New Price Targets

A number of equities analysts recently commented on BMO shares. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.