Heck Capital Advisors LLC purchased a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,570 shares of the bank's stock, valued at approximately $346,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in shares of Bank of Montreal by 14.9% during the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock worth $1,065,474,000 after acquiring an additional 1,534,508 shares during the period. FMR LLC increased its holdings in Bank of Montreal by 14.2% during the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank's stock worth $455,397,000 after purchasing an additional 625,797 shares during the period. The Manufacturers Life Insurance Company raised its position in Bank of Montreal by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank's stock valued at $432,823,000 after purchasing an additional 114,909 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Bank of Montreal by 261.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank's stock valued at $383,449,000 after purchasing an additional 3,074,389 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Bank of Montreal by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 3,453,718 shares of the bank's stock worth $312,054,000 after buying an additional 50,287 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.
Bank of Montreal Price Performance
Bank of Montreal stock traded up $0.79 during trading on Wednesday, reaching $98.35. The company had a trading volume of 119,399 shares, compared to its average volume of 572,831. 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's 50-day simple moving average is $98.10 and its 200 day simple moving average is $91.93. The firm has a market capitalization of $71.79 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63.
Bank of Montreal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.61%. Bank of Montreal's dividend payout ratio is presently 63.32%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on BMO shares. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report 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. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. Finally, StockNews.com cut shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $128.00.
View Our Latest Stock Report on Bank of Montreal
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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