Toronto Dominion Bank Has $1.07 Billion Holdings in Bank of Montreal (NYSE:BMO)

Toronto Dominion Bank grew its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,812,353 shares of the bank's stock after acquiring an additional 1,534,508 shares during the quarter. Bank of Montreal comprises about 1.9% of Toronto Dominion Bank's investment portfolio, making the stock its 10th largest holding. Toronto Dominion Bank owned about 1.62% of Bank of Montreal worth $1,065,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal during the second quarter valued at about $34,000. Rothschild Investment LLC bought a new stake in Bank of Montreal in the second quarter worth about $40,000. GHP Investment Advisors Inc. raised its position in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock worth $50,000 after acquiring an additional 393 shares in the last quarter. Blue Trust Inc. raised its position in Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after acquiring an additional 451 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Bank of Montreal in the second quarter worth about $65,000. 45.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. CIBC upgraded shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Bank of America cut shares of Bank of Montreal from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $134.00 to $117.00 in a research report on Wednesday, August 28th. Barclays cut their price objective on Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. Royal Bank of Canada restated a "sector perform" rating and set a $133.00 price objective (up previously from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. Finally, Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $122.40.

Bank of Montreal Stock Down 0.1 %

NYSE:BMO traded down $0.10 on Wednesday, hitting $100.64. 213,719 shares of the company's stock traded hands, compared to its average volume of 893,628. 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 1 year low of $76.98 and a 1 year high of $104.63. The firm has a 50-day moving average price of $93.73 and a 200-day moving average price of $88.44. The company has a market cap of $73.43 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be paid a $1.1329 dividend. This is a boost 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 4.50%. Bank of Montreal's payout ratio is presently 67.34%.

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.