Van ECK Associates Corp boosted its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2,122.4% during the 2nd quarter, Holdings Channel reports. The firm owned 9,912 shares of the bank’s stock after purchasing an additional 9,466 shares during the period. Van ECK Associates Corp’s holdings in Bank of Montreal were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BMO. Beutel Goodman & Co Ltd. grew its position in Bank of Montreal by 5,646.1% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 6,276,187 shares of the bank’s stock valued at $485,226,000 after purchasing an additional 6,166,961 shares during the last quarter. Toronto Dominion Bank lifted its stake in Bank of Montreal by 43.0% during the 2nd quarter. Toronto Dominion Bank now owns 13,516,956 shares of the bank’s stock valued at $1,048,839,000 after acquiring an additional 4,067,728 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in Bank of Montreal by 22.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,480,512 shares of the bank’s stock valued at $413,701,000 after acquiring an additional 1,016,130 shares during the period. CIBC World Markets Inc. lifted its stake in Bank of Montreal by 7.2% during the 1st quarter. CIBC World Markets Inc. now owns 12,418,594 shares of the bank’s stock valued at $938,473,000 after acquiring an additional 831,633 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Bank of Montreal by 89.6% during the 2nd quarter. Renaissance Technologies LLC now owns 909,295 shares of the bank’s stock valued at $70,268,000 after acquiring an additional 429,800 shares during the period. 43.19% of the stock is currently owned by institutional investors.

BMO opened at $81.63 on Monday. Bank of Montreal has a 52-week low of $73.79 and a 52-week high of $84.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $52.25 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.43 and a beta of 1.11.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be paid a $0.7386 dividend. This represents a $2.95 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is presently 47.28%.

Several equities analysts have issued reports on BMO shares. National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 31st. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Wednesday, July 18th. Finally, BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a research note on Wednesday, July 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $101.00.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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

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