Cidel Asset Management Inc. Sells 15,075 Shares of Bank of Montreal (NYSE:BMO)

Cidel Asset Management Inc. decreased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,896 shares of the bank's stock after selling 15,075 shares during the quarter. Bank of Montreal accounts for approximately 1.5% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 20th largest position. Cidel Asset Management Inc.'s holdings in Bank of Montreal were worth $22,695,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in Bank of Montreal in the 4th quarter valued at approximately $346,000. Pathway Financial Advisers LLC raised its holdings in Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank's stock valued at $2,747,000 after buying an additional 29,367 shares during the last quarter. Five Oceans Advisors acquired a new stake in Bank of Montreal during the 4th quarter valued at approximately $327,000. Wellington Management Group LLP increased its position in Bank of Montreal by 80.0% during the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank's stock valued at $11,344,000 after purchasing an additional 55,823 shares during the period. Finally, Intact Investment Management Inc. increased its position in Bank of Montreal by 72.9% during the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank's stock valued at $53,082,000 after purchasing an additional 248,098 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank of Montreal Stock Down 1.0 %

NYSE BMO traded down $0.96 during mid-day trading on Wednesday, hitting $98.66. The company's stock had a trading volume of 409,220 shares, compared to its average volume of 561,236. The company's 50 day simple moving average is $98.53 and its 200 day simple moving average is $92.36. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. 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 firm has a market capitalization of $72.02 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.40 and a beta of 1.09.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. The ex-dividend date is Thursday, January 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.59%. Bank of Montreal's dividend payout ratio (DPR) is 63.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada raised shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $133.00 to $161.00 in a research report on Wednesday, January 8th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Tuesday. 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. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Finally, CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.