Commerce Bank Buys 847 Shares of Bank of Montreal (NYSE:BMO)

Commerce Bank increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,903 shares of the bank’s stock after purchasing an additional 847 shares during the period. Commerce Bank’s holdings in Bank of Montreal were worth $347,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BMO. Hanson & Doremus Investment Management bought a new position in shares of Bank of Montreal in the first quarter worth approximately $25,000. MBE Wealth Management LLC bought a new position in shares of Bank of Montreal in the first quarter worth approximately $27,000. Exchange Traded Concepts LLC increased its position in shares of Bank of Montreal by 4,972.7% in the first quarter. Exchange Traded Concepts LLC now owns 558 shares of the bank’s stock worth $28,000 after purchasing an additional 547 shares during the last quarter. Ballast Advisors LLC bought a new position in shares of Bank of Montreal in the first quarter worth approximately $28,000. Finally, TFG Advisers LLC bought a new position in shares of Bank of Montreal in the fourth quarter worth approximately $34,000. Institutional investors own 41.28% of the company’s stock.

Several analysts have issued reports on the company. BMO Capital Markets lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 target price for the company. in a research note on Wednesday. Bank of America upped their target price on Bank of Montreal from $53.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 13th. Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday. National Bank Financial lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 target price for the company. in a research note on Thursday. Finally, TD Securities lowered Bank of Montreal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Bank of Montreal presently has a consensus rating of “Hold” and a consensus price target of $82.10.

NYSE:BMO opened at $50.33 on Friday. The firm has a market cap of $33.04 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. Bank of Montreal has a fifty-two week low of $38.31 and a fifty-two week high of $79.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $48.87 and a 200-day moving average price of $65.18.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.99 billion. Bank of Montreal had a return on equity of 11.98% and a net margin of 13.51%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.30 earnings per share. Research analysts predict that Bank of Montreal will post 5.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Monday, August 3rd. Bank of Montreal’s dividend payout ratio (DPR) is presently 42.82%.

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.

See Also: What is a stock portfolio tracker?

Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMO) (TSE:BMO).