Atria Investments Inc Buys Shares of 15,948 Bank of Montreal (NYSE:BMO)

Atria Investments Inc bought a new position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,948 shares of the bank's stock, valued at approximately $1,548,000.

A number of other institutional investors also recently added to or reduced their stakes in BMO. Passumpsic Savings Bank increased its stake in shares of Bank of Montreal by 2.1% during the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock worth $464,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank's stock valued at $776,000 after acquiring an additional 113 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Bank of Montreal by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock valued at $278,000 after acquiring an additional 125 shares during the last quarter. Wealthspire Advisors LLC increased its position in Bank of Montreal by 2.0% during the 4th quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock worth $617,000 after purchasing an additional 125 shares in the last quarter. Finally, Caprock Group LLC raised its stake in Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock valued at $309,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

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Bank of Montreal Stock Down 2.3 %

Shares of BMO stock traded down $2.27 during trading on Tuesday, hitting $95.39. 1,034,790 shares of the company were exchanged, compared to its average volume of 635,371. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. 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 $69.52 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.43 and a beta of 1.07. The business's 50-day simple moving average is $99.49 and its 200 day simple moving average is $94.67.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The business's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts forecast 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. Shareholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.65%. Bank of Montreal's dividend payout ratio (DPR) is 57.09%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMO. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Royal Bank of Canada boosted their target price 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. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, CIBC upgraded shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $128.40.

About Bank of Montreal

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.