DAVENPORT & Co LLC bought a new position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 28,981 shares of the bank's stock, valued at approximately $2,813,000.
Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Bank of Montreal during the third quarter valued at about $45,000. GHP Investment Advisors Inc. lifted its stake in shares of Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock worth $50,000 after buying an additional 393 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after buying an additional 451 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Bank of Montreal by 47.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock valued at $66,000 after buying an additional 219 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Bank of Montreal during the 4th quarter worth $76,000. Institutional investors and hedge funds own 45.82% of the company's stock.
Bank of Montreal Price Performance
Shares of NYSE BMO traded down $0.10 during midday trading on Friday, reaching $99.61. 428,920 shares of the company traded hands, compared to its average volume of 554,264. The firm has a market cap of $72.71 billion, a PE ratio of 14.27, a PEG ratio of 1.40 and a beta of 1.09. 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 stock's 50-day simple moving average is $98.36 and its 200-day simple moving average is $92.11. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63.
Bank of Montreal Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a $1.1329 dividend. This represents a $4.53 annualized dividend and a yield of 4.55%. The ex-dividend date is Thursday, January 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. Bank of Montreal's dividend payout ratio (DPR) is presently 63.32%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on BMO shares. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Royal Bank of Canada raised Bank of Montreal from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $128.00.
Get Our Latest Research Report on BMO
Bank of Montreal Company Profile
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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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