FineMark National Bank & Trust Sells 5,681 Shares of Bank of Montreal (NYSE:BMO)

FineMark National Bank & Trust trimmed its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 63.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,240 shares of the bank's stock after selling 5,681 shares during the quarter. FineMark National Bank & Trust's holdings in Bank of Montreal were worth $314,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in shares of Bank of Montreal by 6.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,667 shares of the bank's stock valued at $331,000 after acquiring an additional 209 shares during the last quarter. Citigroup Inc. boosted its position in Bank of Montreal by 7.0% during the third quarter. Citigroup Inc. now owns 165,148 shares of the bank's stock worth $14,919,000 after purchasing an additional 10,792 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Bank of Montreal by 4.2% during the third quarter. Great Valley Advisor Group Inc. now owns 6,210 shares of the bank's stock valued at $560,000 after purchasing an additional 252 shares during the last quarter. Cerity Partners LLC grew its holdings in Bank of Montreal by 109.0% during the third quarter. Cerity Partners LLC now owns 10,939 shares of the bank's stock valued at $987,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Bank of Montreal in the third quarter valued at approximately $1,502,000. 45.82% of the stock is currently owned by institutional investors.

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Bank of Montreal Stock Performance

Bank of Montreal stock traded up $0.21 during trading hours on Monday, hitting $95.48. The stock had a trading volume of 535,815 shares, compared to its average volume of 850,590. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $106.00. The company has a market cap of $69.41 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The company has a 50-day moving average of $99.23 and a two-hundred day moving average of $96.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its 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. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same period last year, the business earned $2.56 earnings per share. Bank of Montreal's quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The firm 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 dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.65%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.09%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BMO shares. Royal Bank of Canada upped their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock 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. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Finally, StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.