Nykredit A S Acquires New Position in Bank Of Montreal $BMO

Nykredit A S bought a new position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 175,516 shares of the bank’s stock, valued at approximately $31,011,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc grew its position in Bank Of Montreal by 1.5% during the fourth 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 last quarter. FIL Ltd lifted its holdings in shares of Bank Of Montreal by 15.2% in the 4th quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after acquiring an additional 1,245,500 shares during the last quarter. Norges Bank bought a new stake in shares of Bank Of Montreal in the 4th quarter worth approximately $1,059,320,000. Canada Pension Plan Investment Board purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at $1,281,220,000. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 442,812 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 2.3%

Shares of Bank Of Montreal stock opened at $176.76 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. Bank Of Montreal has a 52-week low of $119.84 and a 52-week high of $187.22. The stock has a market capitalization of $123.23 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.03 and a beta of 0.93. The company’s 50 day moving average price is $177.83 and its 200-day moving average price is $160.34.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the business posted $3.23 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be given a $1.71 dividend. The ex-dividend date is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 3.9%. Bank Of Montreal’s payout ratio is presently 54.29%.

Wall Street Analyst Weigh In

BMO has been the topic of several recent research reports. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Keefe, Bruyette & Woods started coverage on Bank Of Montreal in a research note on Friday, August 21st. They set an “outperform” rating on the stock. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $163.00.

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.