On June 3, 2023, The Manufacturers Life Insurance Company announced a decrease in its holdings of Bank of Montreal (NYSE:BMO) (TSE:BMO) shares by 0.4%. The institutional investor reportedly sold 21,249 shares of the bank’s stock during the fourth quarter. As a result, The Manufacturers Life Insurance Company owned 4,792,137 shares or 0.68% of Bank of Montreal at the end of that quarter. These figures translate to a total worth of $433,858,000.
Bank of Montreal is a leading provider of banking and financial services to both individuals and institutions. Its operations are divided into two primary segments; Canadian Personal and Commercial Banking (Canadian P&C), and United States Personal and Commercial Banking (U.S. P&C). Canadian P&C refers to retail banking and financial operations in Canada.
Shares of NYSE:BMO traded up by $1.92 on Friday on the back of the announcement made by The Manufacturers Life Insurance Company regarding its decision to decrease its holding in Bank of Montreal’s shares. During trading on that day, an impressive 172,238 shares exchanged hands compared to its average volume which is currently pegged at around 598,562.
Bank Of Montreal boasts respectable numbers as a company operating within the financial sector with a market capitalization valued at $61.58 billion. In addition, their debt-to-equity ratio stands at just 0.12 showcasing healthy debt levels for such a large organization operating across multiple regions.
Furthermore, it has maintained strong liquidity ratios over time with their current ratio pegged at by industry standards good levels standing at 0.95 and a quick ratio also sitting at this same value indicating strong capacity for operational expenses.
Analysts have projected an optimistic outlook for stocks belonging to Bank Of Montreal henceforth given these fundamental factors and strong track record we expect further growth from them moving forward as they continue to provide banking and financial services to various individuals and institutions globally.
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Bank of Montreal: Institutional Investor Interest and Analyst Ratings
Bank of Montreal: A Look into Institutional Investors and Analyst Ratings
As of the third and fourth quarter of last year, Bank of Montreal (BMO) gained the attention of several hedge funds, as well as institutional investors. These include Guardian Wealth Advisors LLC, Belpointe Asset Management LLC, Iron Horse Wealth Management LLC, CENTRAL TRUST Co, and Bessemer Group Inc. With the purchase of new stakes in BMO’s shares and/or increase in ownership percentage within a specific quarter or two, this solidifies investor confidence in the Canadian bank.
Additionally, StockNews.com recently covered BMO’s current status via its analysts’ rating. On May 18th of this year, they set a “sell” on this bank’s stock. Two other analysts also gave the same rating; meanwhile, two other analysts rated it as “hold”, while one issued a “buy” rating for BMO’s shares.
Based on Bloomberg.com data gathered by experts on June 3rd, Bank of Montreal currently has an average analyst rating called “Hold”, with a shared consensus price estimate – spanning across those who rate it as sell to those who view it as buy – amounting to $149.50.
Regarding its services offering specifically to individuals and institutions, Bank of Montreal offers banking and financial services through Its Canadian Personal and Commercial Banking (Canadian P&C) segment for retail banking and financial operations.
Aside from these details cited above – where institutional investors showed an increase in interest through asset purchasing power – The bank’s earnings results were released last February 28th; reporting a 12.83% net profit margin with $2.39 earnings per share (EPS), surpassing expectations at $2.33 EPS that quarter.
Lastly, provided are details on Bank of Montreal’s recent dividend announcements: given that payment will start on August 28th for its quarterly dividend return with an ex-dividend date set on July 27th, this will come with an increase with $1.085 dividend per share from the previous one set at $1.08 per share. This provides a annualized rate of 5.03% and a dividend payout ratio (DPR) currently hovering at around 55.73%.
