Jones Financial Companies Lllp Increases Stake in Bank Of Montreal $BMO

Jones Financial Companies Lllp lifted its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 121.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 17,363 shares of the bank’s stock after buying an additional 9,530 shares during the period. Jones Financial Companies Lllp’s holdings in Bank Of Montreal were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. North Star Asset Management Inc. raised its position in shares of Bank Of Montreal by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank’s stock worth $817,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Bank Of Montreal by 2.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank’s stock worth $451,000 after acquiring an additional 120 shares in the last quarter. Wealth Alliance LLC raised its position in shares of Bank Of Montreal by 1.8% during the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock worth $778,000 after acquiring an additional 142 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after acquiring an additional 190 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Bank Of Montreal by 5.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank’s stock worth $363,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.4%

Bank Of Montreal stock opened at $126.76 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a 1-year low of $84.05 and a 1-year high of $127.37. The company has a market cap of $90.81 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The stock’s 50 day moving average price is $115.85 and its 200 day moving average price is $105.67.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. During the same period in the previous year, the business earned $2.64 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.1%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 58.63%.

Analyst Upgrades and Downgrades

Several research firms have commented on BMO. Barclays lowered Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. Royal Bank Of Canada lifted their price target on Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. National Bankshares reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.00.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.