Five Oceans Advisors purchased a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,366 shares of the bank's stock, valued at approximately $327,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Passumpsic Savings Bank boosted its stake in shares of Bank of Montreal by 2.1% in the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock worth $464,000 after buying an additional 105 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Bank of Montreal by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank's stock worth $776,000 after acquiring an additional 113 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Bank of Montreal by 4.6% in the fourth quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock worth $309,000 after purchasing an additional 139 shares during the last quarter. Harbour Trust & Investment Management Co grew its holdings in shares of Bank of Montreal by 2.8% in the third quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank's stock valued at $572,000 after purchasing an additional 172 shares in the last quarter. Finally, Boltwood Capital Management raised its position in shares of Bank of Montreal by 4.2% during the 4th quarter. Boltwood Capital Management now owns 4,300 shares of the bank's stock valued at $417,000 after buying an additional 175 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. 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. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. StockNews.com downgraded Bank of Montreal from a "hold" rating to a "sell" rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada upgraded shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $128.00.
Read Our Latest Stock Report on BMO
Bank of Montreal Stock Up 0.9 %
Shares of NYSE:BMO traded up $0.86 during trading on Wednesday, hitting $98.42. 140,646 shares of the company were exchanged, compared to its average volume of 573,622. The firm's 50 day moving average price is $98.10 and its 200-day moving average price is $91.93. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $71.84 billion, a P/E ratio of 14.10, a PEG ratio of 1.39 and a beta of 1.09.
Bank of Montreal Increases Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.60%. Bank of Montreal's payout ratio is 63.32%.
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.
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