Geode Capital Management LLC Boosts Holdings in Bank Of Montreal $BMO

Geode Capital Management LLC boosted its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,030,219 shares of the bank’s stock after buying an additional 442,812 shares during the quarter. Geode Capital Management LLC’s holdings in Bank Of Montreal were worth $932,242,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BMO. WFA of San Diego LLC bought a new stake in shares of Bank Of Montreal during the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Bank Of Montreal during the 4th quarter valued at about $29,000. Larson Financial Group LLC boosted its position in shares of Bank Of Montreal by 466.7% during the 3rd 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 purchased a new position in Bank Of Montreal in the 4th quarter worth approximately $34,000. Finally, Sunbelt Securities Inc. purchased a new position in Bank Of Montreal in the 3rd quarter worth approximately $42,000. Institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

BMO has been the subject of a number of research reports. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Trading Up 0.1%

BMO stock opened at $162.07 on Friday. The company has a market capitalization of $113.51 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Bank Of Montreal has a one year low of $104.08 and a one year high of $163.75. The company’s 50 day moving average price is $148.07 and its two-hundred day moving average price is $139.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

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, topping the consensus estimate of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $2.62 earnings per share. As a group, analysts predict that Bank Of Montreal will post 11.73 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase 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 55.75%.

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.