Bank Of Montreal $BMO Stock: TD Waterhouse Canada Inc. Raises Holdings

TD Waterhouse Canada Inc. boosted its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,371,237 shares of the bank’s stock after buying an additional 20,334 shares during the quarter. Bank Of Montreal makes up about 2.8% of TD Waterhouse Canada Inc.’s holdings, making the stock its 6th largest position. TD Waterhouse Canada Inc.’s holdings in Bank Of Montreal were worth $1,057,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMO. Edmond DE Rothschild Holding S.A. acquired a new stake in Bank Of Montreal in the second quarter valued at $28,000. Western Wealth Management LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth about $38,000. Highland Investment Advisors LLC acquired a new position in shares of Bank Of Montreal during the 2nd quarter worth about $63,000. Virtus Advisers LLC acquired a new position in shares of Bank Of Montreal during the 2nd quarter worth about $95,000. Finally, Eastern Bank purchased a new position in shares of Bank Of Montreal in the 2nd quarter valued at about $88,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday, August 27th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and an average price target of $244.00.

Bank Of Montreal Stock Performance

BMO traded up $1.08 on Friday, reaching $167.13. The company had a trading volume of 350,608 shares, compared to its average volume of 646,088. Bank Of Montreal has a 1 year low of $119.84 and a 1 year high of $187.22. The stock has a market capitalization of $116.17 billion, a PE ratio of 18.86, a P/E/G ratio of 0.99 and a beta of 0.95. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $172.47 and a 200-day moving average price of $166.48.

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

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be given a C$1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. Bank Of Montreal’s dividend payout ratio is 54.29%.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.