4,136 Shares in Bank Of Montreal $BMO Purchased by PCM Encore LLC

PCM Encore LLC acquired a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,136 shares of the bank’s stock, valued at approximately $731,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after buying an additional 673,248 shares during the period. TD Asset Management Inc boosted its holdings in Bank Of Montreal by 1.5% during the 4th quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock valued at $2,519,180,000 after acquiring an additional 293,575 shares during the period. FIL Ltd boosted its holdings in Bank Of Montreal by 15.2% during the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after acquiring an additional 1,245,500 shares during the period. Norges Bank bought a new position in Bank Of Montreal in the 4th quarter valued at $1,059,320,000. Finally, Geode Capital Management LLC grew its position in Bank Of Montreal by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock valued at $932,242,000 after acquiring an additional 442,812 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

BMO has been the subject of several research analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 23rd. Finally, Canadian Imperial Bank of Commerce cut shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Down 1.6%

NYSE:BMO opened at $172.93 on Friday. 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 1-year low of $112.21 and a 1-year high of $187.22. The company has a 50-day moving average of $177.54 and a 200 day moving average of $158.17. The firm has a market cap of $120.56 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same quarter in the previous year, the business posted $2.62 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Bank Of Montreal will post 10.54 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors 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 4.0%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is presently 51.06%.

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.