Midwest Trust Co Acquires Shares of 4,848 Bank Of Montreal $BMO

Midwest Trust Co bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,848 shares of the bank’s stock, valued at approximately $536,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Bank Of Montreal by 2,974.2% in the second quarter. Acadian Asset Management LLC now owns 368,900 shares of the bank’s stock valued at $40,796,000 after acquiring an additional 356,900 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Bank Of Montreal during the 2nd quarter valued at about $11,517,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Bank Of Montreal by 2.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,974,163 shares of the bank’s stock valued at $218,918,000 after purchasing an additional 43,257 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its position in Bank Of Montreal by 7.9% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 607,701 shares of the bank’s stock valued at $67,389,000 after purchasing an additional 44,618 shares during the last quarter. Finally, Aviva PLC lifted its holdings in Bank Of Montreal by 6.7% in 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. 45.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BMO shares. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

Shares of BMO opened at $125.27 on Wednesday. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The firm’s 50-day simple moving average is $126.95 and its two-hundred day simple moving average is $115.38. The stock has a market cap of $89.58 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

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

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $1.63 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal’s payout ratio is currently 57.28%.

Bank Of Montreal Company Profile

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.