Fourpath Capital Management LLC Invests $590,000 in Bank of Montreal (NYSE:BMO)

Fourpath Capital Management LLC acquired a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,076 shares of the bank's stock, valued at approximately $590,000.

Several other hedge funds have also recently bought and sold shares of BMO. Toronto Dominion Bank lifted its position in shares of Bank of Montreal by 14.9% during the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock worth $1,065,474,000 after purchasing an additional 1,534,508 shares in the last quarter. FMR LLC increased its stake in Bank of Montreal by 14.2% during the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank's stock worth $455,397,000 after buying an additional 625,797 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Bank of Montreal by 2.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank's stock worth $432,823,000 after buying an additional 114,909 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Bank of Montreal by 261.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank's stock valued at $383,449,000 after buying an additional 3,074,389 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Bank of Montreal by 1.5% in the third quarter. Fiera Capital Corp now owns 3,453,718 shares of the bank's stock worth $312,054,000 after acquiring an additional 50,287 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Analysts Set New Price Targets

BMO has been the topic of several analyst reports. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. StockNews.com lowered Bank of Montreal from a "hold" rating to a "sell" rating in a research report on Tuesday, December 17th. Cibc World Mkts raised 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 upgraded shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $128.00.

Bank of Montreal Stock Down 0.1 %

BMO stock traded down $0.10 during trading on Friday, hitting $99.61. 428,920 shares of the company's stock were exchanged, compared to its average volume of 569,845. The business has a 50-day moving average price of $98.27 and a two-hundred day moving average price of $92.02. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $72.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.39 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 business 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. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.55%. This is an increase from Bank of Montreal's previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal's dividend payout ratio (DPR) is 63.18%.

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.