Corient Private Wealth LLC Purchases 2,264 Shares of Bank of Montreal (NYSE:BMO)

Corient Private Wealth LLC grew its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,379 shares of the bank’s stock after buying an additional 2,264 shares during the quarter. Corient Private Wealth LLC’s holdings in Bank of Montreal were worth $2,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMO. Toronto Dominion Bank lifted its holdings in Bank of Montreal by 14.9% during the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock worth $1,065,474,000 after acquiring an additional 1,534,508 shares during the period. FMR LLC increased its position in shares of Bank of Montreal by 14.2% during the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock valued at $455,397,000 after purchasing an additional 625,797 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Bank of Montreal by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank’s stock worth $432,823,000 after purchasing an additional 114,909 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Bank of Montreal by 261.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock worth $383,449,000 after buying an additional 3,074,389 shares during the last quarter. Finally, Fiera Capital Corp grew its position in Bank of Montreal by 7.2% during the fourth quarter. Fiera Capital Corp now owns 3,701,814 shares of the bank’s stock valued at $358,991,000 after buying an additional 248,096 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Down 1.2 %

Shares of NYSE BMO opened at $96.70 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market cap of $70.30 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.43 and a beta of 1.07. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00. The business has a 50-day simple moving average of $99.44 and a two-hundred day simple moving average of $95.48.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.56 earnings per share. Research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.59%. Bank of Montreal’s dividend payout ratio (DPR) is currently 57.09%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.40.

Bank of Montreal Profile

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.