26,449 Shares in Bank Of Montreal $BMO Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,449 shares of the bank’s stock, valued at approximately $4,646,000.

A number of other institutional investors have also recently bought and sold shares of the business. N.E.W. Advisory Services LLC bought a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $152,000. Global Retirement Partners LLC bought a new position in shares of Bank Of Montreal in the 2nd quarter worth $207,000. Alberta Investment Management Corp acquired a new stake in shares of Bank Of Montreal during the second quarter worth $143,045,000. Fielder Capital Group LLC acquired a new stake in shares of Bank Of Montreal during the second quarter worth $467,000. Finally, Silverlake Wealth Management LLC bought a new stake in Bank Of Montreal in the second quarter valued at about $685,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $185.75 on Monday. The firm has a market cap of $129.49 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The stock’s 50-day moving average is $176.43 and its 200-day moving average is $157.03. Bank Of Montreal has a one year low of $112.21 and a one year high of $185.86. 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 posted 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. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same period last year, the company earned $2.62 earnings per share. Bank Of Montreal’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Bank Of Montreal will post 11.86 earnings per share 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. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.7%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio (DPR) is 51.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMO. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $163.00.

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.