Rathbones Group PLC Trims Stock Position in Bank of Montreal (NYSE:BMO)

Rathbones Group PLC trimmed its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,543 shares of the bank's stock after selling 5,560 shares during the quarter. Rathbones Group PLC's holdings in Bank of Montreal were worth $4,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its position in Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after purchasing an additional 201 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after buying an additional 246 shares during the last quarter. Vision Financial Markets LLC bought a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal during the third quarter valued at approximately $45,000. Finally, First Horizon Advisors Inc. lifted its holdings in Bank of Montreal by 140.9% during the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after acquiring an additional 358 shares during the period. Institutional investors own 45.82% of the company's stock.

Remove Ads

Bank of Montreal Stock Performance

NYSE:BMO traded up $2.13 on Friday, reaching $91.11. 910,159 shares of the company's stock were exchanged, compared to its average volume of 864,765. The stock has a fifty day simple moving average of $97.42 and a 200-day simple moving average of $96.22. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $66.24 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.43 and a beta of 0.95.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data 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 net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm earned $2.56 EPS. Bank of Montreal's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Bank of Montreal will post 7.71 earnings per share for the current 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 dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.87%. Bank of Montreal's payout ratio is 57.09%.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. CIBC lowered shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Friday, April 4th. Finally, StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $128.40.

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.