Janus Henderson Group PLC Raises Position in Bank of Montreal (BMO)

Janus Henderson Group PLC boosted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,032 shares of the bank’s stock after acquiring an additional 4,870 shares during the period. Janus Henderson Group PLC’s holdings in Bank of Montreal were worth $15,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BMO. AdvisorNet Financial Inc grew its stake in Bank of Montreal by 148.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after acquiring an additional 911 shares during the last quarter. Perigon Wealth Management LLC grew its stake in Bank of Montreal by 71.3% in the 1st quarter. Perigon Wealth Management LLC now owns 1,728 shares of the bank’s stock valued at $131,000 after acquiring an additional 719 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Bank of Montreal in the 2nd quarter valued at about $155,000. Lee Financial Co lifted its holdings in Bank of Montreal by 1,050.0% in the 1st quarter. Lee Financial Co now owns 2,300 shares of the bank’s stock valued at $174,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Clearwater Capital Advisors LLC purchased a new position in Bank of Montreal in the 1st quarter valued at about $185,000. 43.19% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on BMO. Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, August 13th. BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a report on Wednesday, July 18th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Wednesday, July 18th. Finally, National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $101.00.

Shares of BMO stock opened at $81.63 on Friday. The stock has a market cap of $52.25 billion, a PE ratio of 12.02, a P/E/G ratio of 1.43 and a beta of 1.11. Bank of Montreal has a 1-year low of $73.79 and a 1-year high of $84.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.16.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.7386 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.95 annualized dividend and a dividend yield of 3.62%. Bank of Montreal’s payout ratio is currently 47.28%.

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, creditor insurance products, 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.

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

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