JPMorgan Chase & Co. Acquires 144,252 Shares of Bank of Montreal (NYSE:BMO)

JPMorgan Chase & Co. grew its stake in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 4.5% during the third quarter, HoldingsChannel.com reports. The firm owned 3,327,465 shares of the bank’s stock after buying an additional 144,252 shares during the period. JPMorgan Chase & Co.’s holdings in Bank of Montreal were worth $300,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BMO. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal in the second quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal during the 2nd quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Montreal in the 3rd quarter valued at about $45,000. GHP Investment Advisors Inc. raised its position in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares during the period. Finally, Blue Trust Inc. boosted its stake in Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after acquiring an additional 451 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Up 0.0 %

BMO stock opened at $97.05 on Monday. The business has a 50-day moving average of $95.20 and a 200-day moving average of $89.33. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $104.63. The stock has a market capitalization of $70.81 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 67.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BMO shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $133.00 target price (up previously from $106.00) on shares of Bank of Montreal in a research note on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bank of Montreal currently has a consensus rating of “Hold” and a consensus target price of $122.40.

Get Our Latest Report on BMO

About Bank of Montreal

(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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