NBT Bank N A NY Grows Stock Position in Bank Of Montreal $BMO

NBT Bank N A NY lifted its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3,443.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 46,069 shares of the bank’s stock after buying an additional 44,769 shares during the period. NBT Bank N A NY’s holdings in Bank Of Montreal were worth $6,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMO. WFA of San Diego LLC bought a new stake in Bank Of Montreal during the second quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the fourth quarter worth approximately $29,000. Larson Financial Group LLC raised its position in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. Flagship Harbor Advisors LLC bought a new position in Bank Of Montreal in the fourth quarter worth approximately $34,000. Finally, Swiss RE Ltd. purchased a new position in shares of Bank Of Montreal during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMO. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $174.04 on Friday. The company has a market capitalization of $121.90 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 0.93. Bank Of Montreal has a 1-year low of $109.64 and a 1-year high of $178.70. The firm’s 50 day simple moving average is $162.47 and its two-hundred day simple moving average is $146.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.62 earnings per share. Research analysts expect that Bank Of Montreal will post 11.82 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, August 26th. Shareholders of record on Thursday, July 30th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, July 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.