Columbus Macro LLC purchased a new position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 18,521 shares of the bank's stock, valued at approximately $1,797,000.
Several other institutional investors have also made changes to their positions in BMO. Healthcare of Ontario Pension Plan Trust Fund increased its position in Bank of Montreal by 261.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank's stock worth $383,449,000 after buying an additional 3,074,389 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Bank of Montreal by 14.9% in the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock valued at $1,065,474,000 after acquiring an additional 1,534,508 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Bank of Montreal in the 4th quarter worth approximately $760,000. FMR LLC boosted its position in Bank of Montreal by 14.2% during the third quarter. FMR LLC now owns 5,046,721 shares of the bank's stock worth $455,397,000 after purchasing an additional 625,797 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Bank of Montreal by 10.2% during the third quarter. Geode Capital Management LLC now owns 3,321,849 shares of the bank's stock valued at $303,130,000 after purchasing an additional 307,466 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Bank of Montreal Trading Up 0.0 %
Shares of BMO opened at $97.55 on Wednesday. The stock's 50-day moving average price is $98.04 and its 200 day moving average price is $91.85. 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 has a 12-month low of $76.98 and a 12-month high of $104.63. The firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.39 and a beta of 1.09.
Bank of Montreal Increases Dividend
The company also recently announced 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 represents a $4.53 dividend on an annualized basis and a dividend yield of 4.65%. 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. Bank of Montreal's dividend payout ratio is presently 63.32%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on BMO shares. Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Royal Bank of Canada raised shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. StockNews.com cut Bank of Montreal from a "hold" rating to a "sell" rating in a research report on Tuesday, December 17th. Finally, CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $128.00.
Check Out Our Latest Report on Bank of Montreal
About Bank of Montreal
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO.
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