Connor Clark & Lunn Investment Management Ltd. Sells 157,299 Shares of Bank of Montreal (NYSE:BMO)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,827,757 shares of the bank's stock after selling 157,299 shares during the quarter. Bank of Montreal comprises about 0.8% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Bank of Montreal worth $177,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after buying an additional 201 shares during the last quarter. Addison Advisors LLC lifted its holdings in Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after purchasing an additional 246 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Bank of Montreal during the 4th quarter worth approximately $39,000. Wilmington Savings Fund Society FSB purchased a new position in Bank of Montreal in the 3rd quarter valued at $45,000. Finally, First Horizon Advisors Inc. raised its holdings in Bank of Montreal by 140.9% in the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank of Montreal Price Performance

Shares of NYSE BMO opened at $95.39 on Wednesday. The company has a market cap of $69.52 billion, a PE ratio of 13.67, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The stock has a fifty day moving average price of $99.45 and a 200 day moving average price of $94.72.

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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 analysts' consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Sell-side analysts forecast that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Cuts Dividend

The business also recently announced 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. This represents a $4.44 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) is presently 57.09%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BMO shares. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Royal Bank of Canada increased their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bank of Montreal presently has an average rating of "Moderate Buy" 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.

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