Lakeview Capital Partners LLC Purchases 135 Shares of Bank of Montreal (NYSE:BMO)
Lakeview Capital Partners LLC increased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,135 shares of the bank’s stock after acquiring an additional 135 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Bank of Montreal were worth $231,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Usca Ria LLC acquired a new stake in shares of Bank of Montreal in the third quarter valued at approximately $30,000. Cerebellum GP LLC acquired a new stake in shares of Bank of Montreal in the third quarter valued at approximately $31,000. Horan Capital Advisors LLC. acquired a new stake in shares of Bank of Montreal in the third quarter valued at approximately $33,000. Lipe & Dalton acquired a new stake in shares of Bank of Montreal in the second quarter valued at approximately $38,000. Finally, NEXT Financial Group Inc raised its holdings in shares of Bank of Montreal by 38.5% in the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. 41.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on BMO. Scotiabank reiterated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. Desjardins reiterated a “hold” rating and issued a $105.00 price objective on shares of Bank of Montreal in a report on Tuesday, November 5th. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, October 29th. Credit Suisse Group upgraded shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price objective on the stock in a report on Friday, September 6th. Finally, ValuEngine upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.25.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $1.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.07). The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.82 billion. Bank of Montreal had a return on equity of 14.14% and a net margin of 16.48%. Bank of Montreal’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, equities analysts anticipate that Bank of Montreal will post 7.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 1st will be issued a dividend of $0.781 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.11%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, October 31st. Bank of Montreal’s payout ratio is presently 44.78%.
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, 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, as well as wealth management products and services, such as insurance products.
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