Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 140,089 shares of the bank’s stock after acquiring an additional 1,906 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bank of Montreal were worth $10,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMO. Prudential PLC increased its holdings in Bank of Montreal by 2,231.2% in the 2nd quarter. Prudential PLC now owns 885,963 shares of the bank’s stock worth $66,911,000 after acquiring an additional 847,959 shares in the last quarter. Alberta Investment Management Corp increased its holdings in Bank of Montreal by 96.6% in the 3rd quarter. Alberta Investment Management Corp now owns 1,618,700 shares of the bank’s stock worth $119,300,000 after acquiring an additional 795,400 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Bank of Montreal by 6.7% in the 2nd quarter. Mackenzie Financial Corp now owns 9,125,347 shares of the bank’s stock worth $688,507,000 after acquiring an additional 576,021 shares in the last quarter. Cardinal Capital Management Inc. increased its holdings in Bank of Montreal by 55.0% in the 4th quarter. Cardinal Capital Management Inc. now owns 1,104,184 shares of the bank’s stock worth $85,699,000 after acquiring an additional 391,594 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Bank of Montreal by 41.3% in the 2nd quarter. Morgan Stanley now owns 1,043,242 shares of the bank’s stock worth $78,712,000 after acquiring an additional 305,096 shares in the last quarter. 41.84% of the stock is owned by institutional investors.

Shares of BMO opened at $79.36 on Friday. Bank of Montreal has a 52-week low of $66.42 and a 52-week high of $79.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $77.48 and its two-hundred day moving average is $74.56. The stock has a market cap of $50.82 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, December 3rd. The bank reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.61. Bank of Montreal had a net margin of 14.86% and a return on equity of 14.03%. The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter in the previous year, the company posted $2.32 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Bank of Montreal will post 7.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.7965 per share. This represents a $3.19 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.78. Bank of Montreal’s payout ratio is 44.08%.

Several equities research analysts recently commented on the stock. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, January 18th. Citigroup lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and set a $108.00 price target for the company. in a report on Tuesday, December 17th. Oppenheimer raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a report on Wednesday, December 4th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating and set a $109.00 price target for the company in a report on Tuesday, December 3rd. Finally, Zacks Investment Research cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $99.25.

Bank of Montreal Company Profile

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

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