Cherokee Insurance Co Invests $332,000 in Bank Of Montreal $BMO

Cherokee Insurance Co bought a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,005 shares of the bank’s stock, valued at approximately $332,000.

Other large investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted 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 purchasing an additional 190 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Bank Of Montreal during the 1st quarter valued at $34,000. Truvestments Capital LLC bought a new position in shares of Bank Of Montreal in the first quarter valued at $39,000. Harbor Asset Planning Inc. bought a new position in Bank Of Montreal in the 2nd quarter valued at about $39,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada lowered shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $126.22 on Thursday. The business has a fifty day moving average of $127.01 and a 200 day moving average of $115.46. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36. 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 firm has a market capitalization of $90.26 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.84 billion. During the same quarter in the previous year, the company posted $2.64 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

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