Forsta AP Fonden Buys Shares of 92,109 Bank of Montreal (BMO)

Forsta AP Fonden bought a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 92,109 shares of the bank’s stock, valued at approximately $7,395,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC increased its stake in shares of Bank of Montreal by 8.5% in the 2nd quarter. Voya Investment Management LLC now owns 3,443 shares of the bank’s stock worth $252,000 after purchasing an additional 270 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Bank of Montreal by 1.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,828 shares of the bank’s stock worth $2,044,000 after purchasing an additional 287 shares in the last quarter. First Republic Investment Management Inc. increased its stake in shares of Bank of Montreal by 8.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 8,464 shares of the bank’s stock worth $641,000 after purchasing an additional 668 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Bank of Montreal by 0.9% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 74,131 shares of the bank’s stock worth $5,932,000 after purchasing an additional 680 shares in the last quarter. Finally, BKS Advisors LLC increased its stake in shares of Bank of Montreal by 1.6% in the 3rd quarter. BKS Advisors LLC now owns 48,819 shares of the bank’s stock worth $3,696,000 after purchasing an additional 786 shares in the last quarter. Institutional investors and hedge funds own 42.87% of the company’s stock.

Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Canaccord Genuity restated a “hold” rating and issued a $105.00 price objective on shares of Bank of Montreal in a research note on Tuesday, December 5th. Scotiabank restated a “buy” rating and issued a $112.00 price objective on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Finally, Macquarie started coverage on Bank of Montreal in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $98.60.

Bank of Montreal (NYSE:BMO) opened at $77.77 on Thursday. The firm has a market cap of $49,596.82, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.62 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank of Montreal has a 1-year low of $66.75 and a 1-year high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, December 5th. The bank reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.03). The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.25 billion. Bank of Montreal had a return on equity of 14.11% and a net margin of 19.00%. analysts expect that Bank of Montreal will post 6.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 1st will be issued a $0.733 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.93 annualized dividend and a yield of 3.77%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s dividend payout ratio is currently 48.43%.

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About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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