Nexus Investment Management Inc. purchased a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,120 shares of the bank’s stock, valued at approximately $832,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc raised its stake in Bank of Montreal by 2.7% in the third quarter. Vanguard Group Inc now owns 16,878,668 shares of the bank’s stock valued at $1,392,996,000 after purchasing an additional 444,234 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Bank of Montreal by 2.7% during the fourth quarter. Nordea Investment Management AB now owns 82,251 shares of the bank’s stock worth $7,336,000 after acquiring an additional 2,137 shares in the last quarter. Marshall Wace North America L.P. raised its stake in shares of Bank of Montreal by 7.2% during the third quarter. Marshall Wace North America L.P. now owns 8,900 shares of the bank’s stock worth $734,000 after acquiring an additional 600 shares in the last quarter. Morgan Stanley raised its stake in shares of Bank of Montreal by 48.6% during the third quarter. Morgan Stanley now owns 899,951 shares of the bank’s stock worth $74,273,000 after acquiring an additional 294,227 shares in the last quarter. Finally, Naples Global Advisors LLC raised its stake in shares of Bank of Montreal by 1.0% during the fourth quarter. Naples Global Advisors LLC now owns 17,092 shares of the bank’s stock worth $1,194,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 43.85% of the company’s stock.
NYSE:BMO opened at $78.58 on Friday. Bank of Montreal has a twelve month low of $62.79 and a twelve month high of $84.36. The firm has a market capitalization of $49.88 billion, a P/E ratio of 11.24, a P/E/G ratio of 2.21 and a beta of 1.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Wednesday, May 1st will be given a $0.762 dividend. This represents a $3.05 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Tuesday, April 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.75. Bank of Montreal’s payout ratio is currently 43.63%.
Several research analysts have commented on the stock. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. Finally, Bank of America downgraded shares of Bank of Montreal from a “neutral” rating to an “underperform” rating in a research note on Monday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $105.33.
Bank of Montreal Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
Further Reading: Convertible Shares
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