Y Intercept Hong Kong Ltd Invests $5.85 Million in Bank Of Montreal $BMO

Y Intercept Hong Kong Ltd acquired a new position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,209 shares of the bank’s stock, valued at approximately $5,848,000.

Several other hedge funds also recently modified their holdings of BMO. Norges Bank acquired a new stake in shares of Bank Of Montreal during the fourth quarter worth $1,059,320,000. Morgan Stanley boosted its holdings in Bank Of Montreal by 74.4% during the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after purchasing an additional 1,628,318 shares during the last quarter. UBS Group AG grew its holdings in shares of Bank Of Montreal by 155.3% in the 3rd quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock valued at $277,091,000 after acquiring an additional 1,294,169 shares in the last quarter. FIL Ltd grew its stake in Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock valued at $1,226,622,000 after purchasing an additional 1,245,500 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Bank Of Montreal in the fourth quarter valued at $129,909,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Trading Down 0.1%

NYSE BMO opened at $174.04 on Friday. The company has a market cap of $121.90 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $162.47 and its 200 day moving average is $146.95. Bank Of Montreal has a twelve month low of $109.64 and a twelve month high of $178.70.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. Bank Of Montreal’s payout ratio is currently 50.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.