Bank of Montreal (NYSE:BMO) Stake Boosted by Trexquant Investment LP

Trexquant Investment LP grew its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 354.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,296 shares of the bank’s stock after acquiring an additional 14,269 shares during the period. Trexquant Investment LP’s holdings in Bank of Montreal were worth $1,369,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its stake in Bank of Montreal by 9.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 453,526 shares of the bank’s stock worth $33,933,000 after buying an additional 41,025 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Bank of Montreal by 16.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,191,779 shares of the bank’s stock worth $238,809,000 after purchasing an additional 449,568 shares during the period. Northern Trust Corp grew its holdings in Bank of Montreal by 2.4% in the first quarter. Northern Trust Corp now owns 639,958 shares of the bank’s stock worth $47,881,000 after purchasing an additional 14,998 shares during the period. Commonwealth Equity Services LLC grew its holdings in Bank of Montreal by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 54,602 shares of the bank’s stock worth $4,085,000 after purchasing an additional 578 shares during the period. Finally, FIL Ltd grew its holdings in Bank of Montreal by 5.9% in the first quarter. FIL Ltd now owns 892,715 shares of the bank’s stock worth $66,795,000 after purchasing an additional 49,656 shares during the period. 42.13% of the stock is owned by hedge funds and other institutional investors.

Shares of BMO opened at $74.36 on Friday. The stock has a market capitalization of $47.50 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Montreal has a fifty-two week low of $62.79 and a fifty-two week high of $84.36.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 29th. The bank reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.03. Bank of Montreal had a net margin of 17.27% and a return on equity of 14.54%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Bank of Montreal will post 7.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.769 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, July 31st. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.14%. Bank of Montreal’s dividend payout ratio is presently 42.78%.

A number of equities research analysts have weighed in on BMO shares. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Monday, March 4th. Barclays restated a “hold” rating on shares of Bank of Montreal in a report on Friday, May 17th. Howard Weil cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, May 30th. Finally, Scotia Howard Weill restated a “sector perform” rating on shares of Bank of Montreal in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $105.33.

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Bank of Montreal 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, 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, as well as wealth management products and services, such as insurance products.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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