XTX Topco Ltd Makes New $1.26 Million Investment in Bank of Montreal (NYSE:BMO)

XTX Topco Ltd purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 15,002 shares of the bank’s stock, valued at approximately $1,258,000.

Several other hedge funds have also recently modified their holdings of BMO. JARISLOWSKY FRASER Ltd raised its stake in Bank of Montreal by 36.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock worth $439,705,000 after buying an additional 1,412,532 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Bank of Montreal by 47.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,974 shares of the bank’s stock worth $1,250,000 after acquiring an additional 4,826 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Bank of Montreal by 72.5% during the 2nd quarter. Quantbot Technologies LP now owns 50,961 shares of the bank’s stock worth $4,273,000 after purchasing an additional 21,418 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Bank of Montreal by 3.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,629,370 shares of the bank’s stock worth $136,623,000 after purchasing an additional 48,139 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Bank of Montreal by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 63,454 shares of the bank’s stock valued at $5,321,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group assumed coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $137.00 to $124.00 in a report on Monday, June 3rd. Finally, Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Price Performance

NYSE BMO opened at $89.91 on Friday. The company has a market cap of $65.57 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.32 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s fifty day moving average price is $84.80 and its 200 day moving average price is $88.83. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. As a group, equities research analysts forecast that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.123 per share. This represents a $4.49 annualized dividend and a yield of 5.00%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s payout ratio is 76.25%.

Bank of Montreal Company 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.