Bank Of Montreal $BMO Position Trimmed by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,895 shares of the bank’s stock after selling 6,113 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank Of Montreal were worth $4,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BMO. AQR Capital Management LLC grew its holdings in shares of Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after acquiring an additional 2,673 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bank Of Montreal during the second quarter worth $1,018,000. Cerity Partners LLC lifted its holdings in shares of Bank Of Montreal by 1.4% during the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock valued at $1,368,000 after purchasing an additional 167 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Bank Of Montreal by 166.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after purchasing an additional 256,755 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Bank Of Montreal by 5,614.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

NYSE BMO opened at $177.84 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. The firm has a market capitalization of $124.56 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a 50 day simple moving average of $170.52 and a 200-day simple moving average of $152.04. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $184.21.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.62 earnings per share. Equities research analysts predict that Bank Of Montreal will post 11.82 earnings per share 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 issued a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This represents a $6.84 annualized dividend and a dividend yield of 3.8%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s dividend payout ratio is presently 51.06%.

Wall Street Analysts Forecast Growth

BMO has been the topic of several recent analyst reports. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $163.00.

About Bank Of Montreal

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.