2,295 Shares in Bank of Montreal (NYSE:BMO) Bought by B. Riley Wealth Advisors Inc.

Posted by Defense World Staff on Oct 25th, 2023

B. Riley Wealth Advisors Inc. purchased a new stake in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,295 shares of the bank’s stock, valued at approximately $207,000.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal in the 1st quarter valued at about $36,000. Stonebridge Capital Advisors LLC grew its position in shares of Bank of Montreal by 339.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 439 shares of the bank’s stock valued at $40,000 after buying an additional 339 shares during the last quarter. Compass Wealth Management LLC bought a new stake in shares of Bank of Montreal in the 4th quarter valued at about $54,000. Ridgewood Investments LLC bought a new stake in shares of Bank of Montreal in the 1st quarter valued at about $78,000. Finally, CENTRAL TRUST Co grew its position in shares of Bank of Montreal by 64.2% in the 3rd quarter. CENTRAL TRUST Co now owns 1,125 shares of the bank’s stock valued at $99,000 after buying an additional 440 shares during the last quarter. Institutional investors own 43.89% of the company’s stock.

Bank of Montreal Stock Down 1.3 %

Shares of NYSE:BMO opened at $76.47 on Wednesday. The business’s 50-day moving average is $83.52 and its 200-day moving average is $87.17. Bank of Montreal has a 1 year low of $75.90 and a 1 year high of $102.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 1.27 and a beta of 1.14.

Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.20). Bank of Montreal had a return on equity of 12.70% and a net margin of 11.19%. The firm had revenue of $5.94 billion for the quarter. Equities research analysts predict that Bank of Montreal will post 8.71 earnings per share for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Monday, October 30th will be paid a dividend of $1.11 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.09. This represents a $4.44 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend is Friday, October 27th. Bank of Montreal’s dividend payout ratio is 58.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BMO shares. Barclays boosted their price objective on Bank of Montreal from $123.00 to $131.00 and gave the company an “overweight” rating in a research note on Monday, August 21st. StockNews.com started coverage on Bank of Montreal in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.25.

Get Our Latest Research Report on BMO

Bank of Montreal Profile

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.