Connor Clark & Lunn Investment Management Ltd. Has $218.92 Million Stock Position in Bank Of Montreal $BMO

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,974,163 shares of the bank’s stock after buying an additional 43,257 shares during the period. Bank Of Montreal comprises approximately 0.8% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Bank Of Montreal worth $218,918,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Bank Of Montreal by 7.9% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 607,701 shares of the bank’s stock worth $67,389,000 after purchasing an additional 44,618 shares during the last quarter. Aviva PLC lifted its holdings in Bank Of Montreal by 6.7% during the 2nd quarter. Aviva PLC now owns 544,477 shares of the bank’s stock worth $60,329,000 after buying an additional 34,065 shares during the period. Prospera Financial Services Inc increased its stake in shares of Bank Of Montreal by 11.5% in the second quarter. Prospera Financial Services Inc now owns 3,383 shares of the bank’s stock valued at $374,000 after buying an additional 348 shares during the period. AE Wealth Management LLC raised its position in shares of Bank Of Montreal by 7.3% during the second quarter. AE Wealth Management LLC now owns 3,182 shares of the bank’s stock worth $352,000 after acquiring an additional 216 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of Bank Of Montreal by 7.2% in the second quarter. Metis Global Partners LLC now owns 27,667 shares of the bank’s stock worth $3,066,000 after acquiring an additional 1,848 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMO shares. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada downgraded shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $168.00 to $163.00 in a research note on Friday, October 3rd. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Price Performance

BMO stock opened at $123.57 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. The company’s 50-day moving average is $126.80 and its 200-day moving average is $114.81. The stock has a market capitalization of $88.03 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36.

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, topping analysts’ consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 EPS. Equities research analysts expect 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. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.63 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.3%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 57.28%.

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.