Jupiter Topco LLC Purchases New Shares in Bank Of Montreal $BMO

Jupiter Topco LLC purchased a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 61,227 shares of the bank’s stock, valued at approximately $10,806,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. purchased a new position in Bank Of Montreal in the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Bank Of Montreal in the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its stake in shares of 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 in the last quarter. WFA of San Diego LLC purchased a new position in Bank Of Montreal in the second quarter valued at about $28,000. Finally, Western Wealth Management LLC acquired a new stake in Bank Of Montreal during the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMO. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $172.06 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $119.95 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. Bank Of Montreal has a twelve month low of $118.66 and a twelve month high of $187.22. The business has a 50 day simple moving average of $177.93 and a 200-day simple moving average of $159.41.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 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 the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.62 earnings per share. As a group, equities research analysts expect that Bank Of Montreal will post 10.76 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. Bank Of Montreal’s payout ratio is 54.29%.

Bank Of Montreal 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.