Gulf International Bank UK Ltd lessened its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,765 shares of the bank’s stock after selling 2,350 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Bank of Montreal were worth $15,372,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BMO. Elkfork Partners LLC bought a new position in Bank of Montreal during the fourth quarter worth about $155,000. Icon Wealth Partners LLC bought a new position in Bank of Montreal during the fourth quarter worth about $195,000. Advisory Services Network LLC boosted its position in Bank of Montreal by 77.5% during the fourth quarter. Advisory Services Network LLC now owns 2,551 shares of the bank’s stock worth $204,000 after purchasing an additional 1,114 shares during the period. WESPAC Advisors LLC bought a new position in Bank of Montreal during the fourth quarter worth about $208,000. Finally, Private Trust Co. NA bought a new position in Bank of Montreal during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 44.39% of the company’s stock.
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BMO has been the subject of a number of research reports. Macquarie upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 15th. Zacks Investment Research lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. Finally, ValuEngine downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.20.
Shares of Bank of Montreal opened at $79.19 on Thursday, Marketbeat.com reports. Bank of Montreal has a 12-month low of $78.74 and a 12-month high of $79.16. The stock has a market capitalization of $50.74 billion, a PE ratio of 12.66, a PEG ratio of 1.67 and a beta of 1.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, February 27th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. Bank of Montreal had a net margin of 16.69% and a return on equity of 13.85%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. analysts anticipate that Bank of Montreal will post 6.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 28th. Stockholders of record on Tuesday, May 1st will be issued a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, April 30th. Bank of Montreal’s dividend payout ratio is presently 46.47%.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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