Bank of Montreal (NYSE:BMO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,600 shares of the bank's stock after selling 5,400 shares during the quarter. Principal Financial Group Inc.'s holdings in Bank of Montreal were worth $1,590,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal during the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal during the third quarter valued at $45,000. GHP Investment Advisors Inc. increased its position in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock valued at $50,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. increased its position in shares of Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after acquiring an additional 451 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Bank of Montreal by 44.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank's stock worth $99,000 after acquiring an additional 342 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Price Performance

BMO traded down $0.98 during trading on Friday, hitting $96.06. The company's stock had a trading volume of 495,640 shares, compared to its average volume of 437,870. The firm has a market capitalization of $70.09 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.42 and a beta of 1.10. The business's fifty day simple moving average is $95.58 and its 200 day simple moving average is $89.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a $1.1329 dividend. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 annualized dividend and a dividend yield of 4.72%. Bank of Montreal's dividend payout ratio (DPR) is 67.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $133.00 target price (up previously from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. StockNews.com lowered Bank of Montreal from a "hold" rating to a "sell" rating in a research note on Tuesday, December 17th. 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 raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $122.40.

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.