Bank of Montreal (NYSE:BMO) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 708,767 shares of the bank's stock after purchasing an additional 40,135 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of Bank of Montreal worth $68,786,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC boosted its position in Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after purchasing an additional 246 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal in the 3rd quarter valued at $45,000. First Horizon Advisors Inc. raised its position in 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 purchasing an additional 358 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock worth $66,000 after purchasing an additional 219 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 %

NYSE BMO opened at $101.75 on Tuesday. The company has a market capitalization of $74.16 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The company's fifty day moving average price is $99.31 and its two-hundred day moving average price is $94.24.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.56 earnings per share. As a group, research analysts predict that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.36%. Bank of Montreal's payout ratio is 56.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BMO shares. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, Royal Bank of Canada lifted their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Seven investment 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. Based on data from MarketBeat, Bank of Montreal has an average rating of "Moderate Buy" and a consensus 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.

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