Hillsdale Investment Management Inc. Buys 396,687 Shares of Bank of Montreal (NYSE:BMO)

Hillsdale Investment Management Inc. lifted its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2,162.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 415,034 shares of the bank's stock after acquiring an additional 396,687 shares during the quarter. Bank of Montreal accounts for 2.0% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 10th largest position. Hillsdale Investment Management Inc. owned about 0.06% of Bank of Montreal worth $40,247,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BMO. Natixis Advisors LLC increased its stake in Bank of Montreal by 7.6% in the 3rd quarter. Natixis Advisors LLC now owns 30,990 shares of the bank's stock worth $2,795,000 after buying an additional 2,177 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Bank of Montreal by 6.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,667 shares of the bank's stock worth $331,000 after acquiring an additional 209 shares during the period. Caprock Group LLC raised its stake in shares of Bank of Montreal by 8.7% during the third quarter. Caprock Group LLC now owns 3,046 shares of the bank's stock valued at $275,000 after acquiring an additional 244 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Bank of Montreal by 3.7% during the third quarter. Intech Investment Management LLC now owns 107,096 shares of the bank's stock valued at $9,675,000 after acquiring an additional 3,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of Montreal by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,848,917 shares of the bank's stock valued at $167,017,000 after purchasing an additional 103,495 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

BMO has been the topic of several recent research reports. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Finally, CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.40.

Bank of Montreal Trading Down 0.6 %

Shares of NYSE BMO traded down $0.59 during midday trading on Wednesday, reaching $97.56. 320,560 shares of the stock were exchanged, compared to its average volume of 786,278. The stock has a market capitalization of $70.93 billion, a P/E ratio of 13.98, a PEG ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day simple moving average of $99.42 and a 200 day simple moving average of $95.71. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the business earned $2.56 EPS. The company's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities analysts expect 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. Shareholders of record on Tuesday, April 29th will be paid a $1.1094 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.55%. Bank of Montreal's dividend payout ratio is presently 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.