Bank of Montreal (NYSE:BMO) Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,472 shares of the bank's stock after buying an additional 2,797 shares during the period. Ritholtz Wealth Management's holdings in Bank of Montreal were worth $1,405,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Park Avenue Securities LLC acquired a new stake in shares of Bank of Montreal during the fourth quarter worth approximately $434,000. Ignite Planners LLC boosted its stake in Bank of Montreal by 3.0% during the 4th quarter. Ignite Planners LLC now owns 10,780 shares of the bank's stock valued at $1,036,000 after acquiring an additional 317 shares during the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in Bank of Montreal by 473.7% during the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 1,595 shares of the bank's stock worth $155,000 after acquiring an additional 1,317 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Bank of Montreal in the 4th quarter worth about $1,407,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Bank of Montreal in the 4th quarter valued at about $760,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Trading Down 0.2 %

Shares of NYSE:BMO traded down $0.21 during midday trading on Friday, reaching $98.99. The company had a trading volume of 375,202 shares, compared to its average volume of 436,652. The company has a fifty day simple moving average of $96.75 and a two-hundred day simple moving average of $90.72. 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 cap of $72.23 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.37 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a $1.1329 dividend. This represents a $4.53 annualized dividend and a dividend yield of 4.58%. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal's dividend payout ratio (DPR) is presently 65.62%.

Wall Street Analysts Forecast Growth

Several equities analysts 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. Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research 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 report on Friday, December 6th. StockNews.com cut shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada raised Bank of Montreal from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $133.00 to $161.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of Montreal currently has an average rating of "Hold" and an average target price of $128.00.

Bank of Montreal Profile

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.