Bank of Montreal (BMO) Shares Bought by AGF Investments Inc.
AGF Investments Inc. boosted its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 48.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,170,525 shares of the bank’s stock after purchasing an additional 382,363 shares during the quarter. Bank of Montreal comprises 0.9% of AGF Investments Inc.’s investment portfolio, making the stock its 27th biggest position. AGF Investments Inc.’s holdings in Bank of Montreal were worth $93,670,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its stake in Bank of Montreal by 8.5% in the 2nd quarter. Voya Investment Management LLC now owns 3,443 shares of the bank’s stock valued at $252,000 after acquiring an additional 270 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in 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 valued at $2,044,000 after acquiring an additional 287 shares during the period. First Republic Investment Management Inc. grew its stake in 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 valued at $641,000 after acquiring an additional 668 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its stake in 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 valued at $5,932,000 after acquiring an additional 680 shares during the period. Finally, BKS Advisors LLC grew its stake in Bank of Montreal by 1.6% in the 3rd quarter. BKS Advisors LLC now owns 48,819 shares of the bank’s stock valued at $3,696,000 after acquiring an additional 786 shares during the period. 42.80% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Montreal (NYSE:BMO) opened at $75.64 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $49,000.80, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. Bank of Montreal has a fifty-two week low of $66.75 and a fifty-two week high of $84.71.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.733 per share. This represents a $2.93 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Wednesday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s payout ratio is currently 48.43%.
BMO has been the topic of a number of research analyst reports. Scotiabank reissued a “buy” rating and issued a $112.00 price target on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Tuesday, February 6th. Canaccord Genuity restated a “hold” rating and issued a $105.00 price objective on shares of Bank of Montreal in a report on Tuesday, December 5th. Finally, Macquarie initiated coverage on Bank of Montreal in a report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $98.60.
TRADEMARK VIOLATION NOTICE: This story was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://theolympiareport.com/2018/02/12/bank-of-montreal-bmo-shares-bought-by-agf-investments-inc.html.
Bank of Montreal Profile
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.
Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMO) (TSE:BMO).
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.