Hillsdale Investment Management Inc. Increases Stake in Bank Of Montreal $BMO

Hillsdale Investment Management Inc. increased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 13.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,809 shares of the bank’s stock after purchasing an additional 65,689 shares during the quarter. Bank Of Montreal makes up about 2.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 7th largest holding. Hillsdale Investment Management Inc. owned about 0.08% of Bank Of Montreal worth $73,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. WFA of San Diego LLC bought a new stake in Bank Of Montreal during the 2nd quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Bank Of Montreal in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC raised its stake in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after acquiring an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Bank Of Montreal during the fourth quarter worth $34,000. Finally, Swiss RE Ltd. acquired a new position in shares of Bank Of Montreal during the fourth quarter worth $38,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BMO shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Trading Down 0.2%

NYSE:BMO opened at $178.68 on Tuesday. 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 has a one year low of $109.64 and a one year high of $180.09. The company has a market cap of $125.15 billion, a PE ratio of 18.97, a PEG ratio of 1.00 and a beta of 0.93. The firm has a 50-day moving average of $165.58 and a 200-day moving average of $149.07.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion for 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 firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.62 EPS. As a group, equities research analysts expect that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is 50.96%.

About Bank Of Montreal

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.