Arrowstreet Capital Limited Partnership Has $79.33 Million Holdings in Bank of Montreal (NYSE:BMO)

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 44.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 817,796 shares of the bank's stock after selling 659,039 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.11% of Bank of Montreal worth $79,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Passumpsic Savings Bank lifted its stake in Bank of Montreal by 2.1% during the third quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock valued at $464,000 after buying an additional 105 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Bank of Montreal by 1.3% during 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 during the period. Valeo Financial Advisors LLC lifted its position in shares of Bank of Montreal by 4.6% in the 4th 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 in the last quarter. Wealthspire Advisors LLC boosted its stake in Bank of Montreal by 2.0% in 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 during the period. Finally, Caprock Group LLC grew its position in Bank of Montreal by 4.6% during the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock worth $309,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on BMO shares. CIBC cut Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Friday. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada upped their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, 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. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Bank of Montreal has an average rating of "Hold" and a consensus price target of $128.40.

Bank of Montreal Stock Down 7.6 %

NYSE BMO traded down $7.29 during trading on Friday, reaching $88.76. The company's stock had a trading volume of 1,174,871 shares, compared to its average volume of 853,879. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $64.53 billion, a PE ratio of 12.72, a PEG ratio of 1.43 and a beta of 0.95. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The business has a 50-day moving average price of $99.03 and a 200-day moving average price of $96.13.

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

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's payout ratio is 57.09%.

Bank of Montreal Company 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.