Cumberland Partners Ltd increased its stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,902 shares of the bank's stock after buying an additional 3,319 shares during the period. Cumberland Partners Ltd's holdings in Bank of Montreal were worth $1,347,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Bank of Montreal during the 3rd quarter valued at $45,000. GHP Investment Advisors Inc. grew its holdings in Bank of Montreal by 244.1% during the 3rd 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 holdings in shares of Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after purchasing an additional 451 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Bank of Montreal by 47.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock worth $66,000 after purchasing an additional 219 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Bank of Montreal in the 4th quarter worth approximately $76,000. Institutional investors own 45.82% of the company's stock.
Bank of Montreal Stock Performance
BMO stock traded down $0.42 during midday trading on Friday, reaching $100.50. The stock had a trading volume of 232,696 shares, compared to its average volume of 568,493. 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 firm has a fifty day simple moving average of $98.62 and a two-hundred day simple moving average of $93.07. The stock has a market cap of $73.25 billion, a PE ratio of 14.40, a P/E/G ratio of 1.43 and a beta of 1.09. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63.
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 given a $1.1329 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a yield of 4.51%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. Bank of Montreal's dividend payout ratio is currently 63.18%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on BMO shares. StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a research note on Thursday. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Scotiabank upgraded shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada raised Bank of Montreal from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of "Hold" and an average price target of $128.00.
Check Out Our Latest Research Report on Bank of Montreal
Bank of Montreal Company Profile
(
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.
Featured Articles
Before you consider Bank of Montreal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Montreal wasn't on the list.
While Bank of Montreal currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
