Bank of Montreal (NYSE:BMO) is Barometer Capital Management Inc.’s 2nd Largest Position

Barometer Capital Management Inc. grew its position in Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) by 12.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 200,403 shares of the bank’s stock after purchasing an additional 22,776 shares during the quarter. Bank of Montreal makes up 5.3% of Barometer Capital Management Inc.’s portfolio, making the stock its 2nd biggest position. Barometer Capital Management Inc.’s holdings in Bank of Montreal were worth $29,201,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ERn Financial LLC bought a new position in shares of Bank of Montreal in the 1st quarter worth $218,000. Vanguard Group Inc. raised its position in shares of Bank of Montreal by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock worth $2,651,736,000 after acquiring an additional 1,293,280 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Bank of Montreal in the 1st quarter worth $225,000. United Services Automobile Association bought a new position in shares of Bank of Montreal in the 1st quarter worth $22,241,000. Finally, Aviva PLC raised its position in shares of Bank of Montreal by 22.8% in the 1st quarter. Aviva PLC now owns 259,194 shares of the bank’s stock worth $30,546,000 after acquiring an additional 48,086 shares in the last quarter. 42.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on BMO shares. Desjardins reduced their price target on Bank of Montreal from C$153.00 to C$150.00 in a research report on Wednesday, August 31st. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Stifel Europe upped their target price on Bank of Montreal from C$157.00 to C$160.00 in a research report on Thursday, May 26th. TD Securities reduced their target price on Bank of Montreal from C$160.00 to C$155.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. Finally, Credit Suisse Group started coverage on Bank of Montreal in a research report on Friday, May 20th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.72.

Bank of Montreal Stock Up 2.6 %

Shares of BMO stock opened at $94.98 on Friday. The stock’s 50-day simple moving average is $97.78 and its 200-day simple moving average is $105.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $64.07 billion, a PE ratio of 7.19, a P/E/G ratio of 1.43 and a beta of 1.17. Bank of Montreal has a fifty-two week low of $90.41 and a fifty-two week high of $122.77.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 30th. The bank reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.63. Bank of Montreal had a return on equity of 16.07% and a net margin of 30.66%. The business had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same period in the prior year, the company earned $2.80 earnings per share. The company’s revenue was down 19.3% on a year-over-year basis. Equities analysts expect that Bank of Montreal will post 10.31 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be given a dividend of $1.086 per share. The ex-dividend date of this dividend is Monday, October 31st. This represents a $4.34 dividend on an annualized basis and a yield of 4.57%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.08. Bank of Montreal’s dividend payout ratio is currently 32.93%.

About Bank of Montreal

(Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

See Also

Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO).

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

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