Lakeview Capital Partners LLC raised its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the bank’s stock after purchasing an additional 135 shares during the period. Lakeview Capital Partners LLC’s holdings in Bank of Montreal were worth $231,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Usca Ria LLC acquired a new stake in shares of Bank of Montreal in the 3rd quarter worth approximately $30,000. Cerebellum GP LLC bought a new stake in shares of Bank of Montreal during the 3rd quarter worth $31,000. Horan Capital Advisors LLC. bought a new stake in shares of Bank of Montreal during the 3rd quarter worth $33,000. Lipe & Dalton bought a new stake in shares of Bank of Montreal during the 2nd quarter worth $38,000. Finally, NEXT Financial Group Inc boosted its holdings in shares of Bank of Montreal by 38.5% during the 2nd quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock worth $39,000 after buying an additional 144 shares during the period. 41.17% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective for the company in a report on Tuesday, October 29th. Desjardins reaffirmed a “hold” rating and set a $105.00 price objective on shares of Bank of Montreal in a report on Tuesday, November 5th. Credit Suisse Group raised shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price objective for the company in a report on Friday, September 6th. Finally, Scotiabank reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $98.25.
Shares of NYSE BMO traded down $0.17 during trading hours on Friday, hitting $76.08. 218,839 shares of the stock were exchanged, compared to its average volume of 510,747. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day moving average is $73.78 and its 200 day moving average is $74.27. The firm has a market capitalization of $48.57 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.90 and a beta of 1.19. Bank of Montreal has a one year low of $62.79 and a one year high of $79.35.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $2.31 earnings per share. Bank of Montreal’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts anticipate that Bank of Montreal will post 7.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 1st will be paid a $0.781 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.11%. Bank of Montreal’s dividend payout ratio is currently 44.78%.
About Bank of Montreal
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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