SNS Financial Group LLC Acquires Shares of 2,057 Bank of Montreal (NYSE:BMO)

SNS Financial Group LLC acquired a new stake in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,057 shares of the bank’s stock, valued at approximately $204,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bank of Montreal by 1.8% during the third quarter. Vanguard Group Inc. now owns 27,191,193 shares of the bank’s stock worth $2,294,121,000 after purchasing an additional 468,761 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Bank of Montreal by 10.6% in the third quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank’s stock valued at $1,247,154,000 after purchasing an additional 1,417,298 shares during the period. Toronto Dominion Bank increased its stake in Bank of Montreal by 5.1% during the 3rd quarter. Toronto Dominion Bank now owns 14,042,593 shares of the bank’s stock worth $1,184,774,000 after buying an additional 679,340 shares during the period. Mackenzie Financial Corp lifted its holdings in Bank of Montreal by 0.5% during the 3rd quarter. Mackenzie Financial Corp now owns 13,757,010 shares of the bank’s stock worth $1,102,086,000 after buying an additional 69,009 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Bank of Montreal by 14.1% in the fourth quarter. 1832 Asset Management L.P. now owns 9,544,892 shares of the bank’s stock worth $864,767,000 after acquiring an additional 1,179,546 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Trading Down 1.0 %

NYSE:BMO traded down $0.94 during trading hours on Tuesday, hitting $96.67. 137,214 shares of the stock were exchanged, compared to its average volume of 678,499. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company has a market capitalization of $70.49 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The company’s 50 day moving average is $94.11 and its two-hundred day moving average is $88.94.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. On average, sell-side analysts anticipate that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a $1.1172 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s dividend payout ratio (DPR) is 62.02%.

Wall Street Analyst Weigh In

BMO has been the subject of several research analyst reports. Bank of America upgraded shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Barclays initiated coverage on Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating on the stock. National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Jefferies Financial Group initiated coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

Get Our Latest Analysis on Bank of Montreal

Bank of Montreal Profile

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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