Bank of Montreal (NYSE:BMO) Shares Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lifted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 28.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,729 shares of the bank’s stock after purchasing an additional 18,056 shares during the period. Bank of Montreal makes up 1.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 14th biggest holding. K.J. Harrison & Partners Inc’s holdings in Bank of Montreal were worth $8,102,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Stevens Capital Management LP acquired a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $258,000. Syon Capital LLC grew its holdings in Bank of Montreal by 16.6% during the 4th quarter. Syon Capital LLC now owns 6,269 shares of the bank’s stock worth $620,000 after acquiring an additional 892 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Bank of Montreal during the 4th quarter worth approximately $225,000. Yousif Capital Management LLC grew its holdings in Bank of Montreal by 6.4% during the 4th quarter. Yousif Capital Management LLC now owns 12,517 shares of the bank’s stock worth $1,238,000 after acquiring an additional 750 shares in the last quarter. Finally, Cumberland Partners Ltd grew its holdings in Bank of Montreal by 28.6% during the 4th quarter. Cumberland Partners Ltd now owns 25,603 shares of the bank’s stock worth $2,533,000 after acquiring an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BMO. Barclays began coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating for the company. Jefferies Financial Group began coverage on shares of Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating for the company. 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 assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.00.

Bank of Montreal Stock Down 2.0 %

Shares of NYSE:BMO traded down $1.82 during trading on Friday, hitting $90.90. 3,961,611 shares of the company were exchanged, compared to its average volume of 740,200. The stock has a market capitalization of $66.29 billion, a P/E ratio of 17.35, a PEG ratio of 1.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm’s 50 day moving average price is $94.16 and its 200-day moving average price is $90.16.

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

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be given a $1.1172 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, April 26th. This represents a $4.47 annualized dividend and a yield of 4.92%. Bank of Montreal’s dividend payout ratio is 62.02%.

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.