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.

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

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.

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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.

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

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