Entropy Technologies LP Buys Shares of 29,774 Bank of Montreal (NYSE:BMO)

Entropy Technologies LP acquired a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,774 shares of the bank's stock, valued at approximately $2,686,000.

A number of other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in shares of Bank of Montreal by 38.0% in the first quarter. National Bank of Canada FI now owns 14,069,787 shares of the bank's stock worth $1,318,457,000 after purchasing an additional 3,874,573 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Bank of Montreal in the first quarter valued at $307,237,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Bank of Montreal by 138.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank's stock valued at $407,282,000 after purchasing an additional 2,816,385 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its holdings in shares of Bank of Montreal by 36.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank's stock valued at $439,705,000 after purchasing an additional 1,412,532 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Bank of Montreal by 19.7% in the first quarter. 1832 Asset Management L.P. now owns 6,848,396 shares of the bank's stock valued at $668,951,000 after acquiring an additional 1,128,281 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BMO. StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a research note on Thursday, August 29th. TD Securities downgraded shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Jefferies Financial Group downgraded shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Barclays reduced their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 28th. Finally, Bank of America downgraded shares of Bank of Montreal from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $119.75.

Bank of Montreal Price Performance

Shares of BMO stock remained flat at $94.09 on Tuesday. 427,612 shares of the stock were exchanged, compared to its average volume of 898,357. The firm has a market capitalization of $68.64 billion, a PE ratio of 14.79, a PEG ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $100.12. The firm has a 50 day simple moving average of $90.01 and a 200-day simple moving average of $88.04.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. On average, sell-side analysts forecast that Bank of Montreal will post 8 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a yield of 4.77%. Bank of Montreal's dividend payout ratio (DPR) is presently 72.13%.

Bank of Montreal 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.