CIBC Private Wealth Group LLC Boosts Stock Position in Bank of Montreal (NYSE:BMO)

CIBC Private Wealth Group LLC grew its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 61.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,640 shares of the bank's stock after acquiring an additional 2,897 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Bank of Montreal were worth $752,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Passumpsic Savings Bank boosted its stake in Bank of Montreal by 2.1% during the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Bank of Montreal by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock valued at $278,000 after purchasing an additional 125 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Bank of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock valued at $617,000 after buying an additional 125 shares during the last quarter. Caprock Group LLC increased its holdings in Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock worth $309,000 after buying an additional 139 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Bank of Montreal by 16.2% in the 4th quarter. Rhumbline Advisers now owns 1,049 shares of the bank's stock worth $102,000 after buying an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Remove Ads

Bank of Montreal Trading Up 4.9 %

NYSE:BMO traded up $4.27 during mid-day trading on Wednesday, hitting $91.81. 1,329,882 shares of the stock traded hands, compared to its average volume of 863,857. The stock has a market capitalization of $66.75 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.43 and a beta of 0.95. The firm's 50 day moving average is $97.72 and its two-hundred day moving average is $96.18. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business's revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.56 earnings per share. On average, equities research analysts predict that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.83%. Bank of Montreal's payout ratio is currently 57.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMO. CIBC lowered shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Friday, April 4th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada increased 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. Finally, Cibc World Mkts lowered Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bank of Montreal has an average rating of "Hold" and an average price target 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.