Checchi Capital Advisers LLC purchased a new position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,516 shares of the bank's stock, valued at approximately $244,000.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its holdings in Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after buying an additional 201 shares in the last quarter. Addison Advisors LLC increased its stake in shares of Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after purchasing an additional 246 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bank of Montreal in the 3rd quarter worth about $45,000. Blue Trust Inc. boosted its position in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after buying an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.
Bank of Montreal Trading Down 1.0 %
Shares of NYSE BMO traded down $1.07 during mid-day trading on Monday, reaching $101.75. 573,247 shares of the company's stock were exchanged, compared to its average volume of 619,511. The company's 50-day moving average is $99.21 and its 200-day moving average is $94.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $74.16 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.43 and a beta of 1.09. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the firm posted $2.56 earnings per share. Bank of Montreal's revenue was up 20.8% compared to the same quarter last year. Analysts expect that Bank of Montreal will post 7.71 EPS for the current fiscal year.
Bank of Montreal Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.36%. Bank of Montreal's dividend payout ratio is currently 56.83%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Finally, StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.40.
Check Out Our Latest Analysis on BMO
About Bank of Montreal
(
Free Report)
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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