Deroy & Devereaux Private Investment Counsel Inc. Invests $210,000 in Bank of Montreal (BMO)

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,549 shares of the bank’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of BMO. BDO Wealth Advisors LLC bought a new position in Bank of Montreal during the second quarter valued at approximately $105,000. AdvisorNet Financial Inc lifted its position in Bank of Montreal by 148.1% during the second quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after purchasing an additional 911 shares during the period. Cornerstone Wealth Management LLC bought a new position in Bank of Montreal during the third quarter valued at approximately $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Bank of Montreal during the second quarter valued at approximately $155,000. Finally, Chicago Partners Investment Group LLC lifted its position in Bank of Montreal by 889.2% during the second quarter. Chicago Partners Investment Group LLC now owns 2,572 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,312 shares during the period. Institutional investors own 43.38% of the company’s stock.

Shares of Bank of Montreal stock opened at $75.52 on Wednesday. The company has a market cap of $48.36 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.30 and a beta of 1.09. Bank of Montreal has a twelve month low of $73.79 and a twelve month 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.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 28th. The bank reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.07. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. On average, research analysts anticipate that Bank of Montreal will post 6.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be given a $0.7386 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.95 annualized dividend and a yield of 3.91%. Bank of Montreal’s payout ratio is presently 47.28%.

A number of research analysts recently weighed in on the stock. Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Tuesday, October 16th. BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a research report on Wednesday, July 18th. Finally, Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.50.

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, 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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