Franklin Resources Inc. Acquires 5,821 Shares of Bank of Montreal (NYSE:BMO)

Franklin Resources Inc. increased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,510 shares of the bank's stock after buying an additional 5,821 shares during the period. Franklin Resources Inc.'s holdings in Bank of Montreal were worth $30,773,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BMO. Strategic Investment Solutions Inc. IL bought a new position in Bank of Montreal during the 2nd quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal in the second quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Montreal in the third quarter worth about $45,000. GHP Investment Advisors Inc. raised its position in shares of Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock worth $50,000 after purchasing an additional 393 shares during the period. Finally, Blue Trust Inc. lifted its stake in Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after buying an additional 451 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMO. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $133.00 price target (up from $106.00) on shares of Bank of Montreal in a research report on Friday, December 6th. Bank of America lowered Bank of Montreal from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $134.00 to $117.00 in a research report on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a "buy" rating to a "hold" rating in a report on Tuesday, August 27th. Finally, StockNews.com downgraded shares of Bank of Montreal from a "hold" rating to a "sell" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $122.40.

Bank of Montreal Price Performance

Shares of NYSE BMO traded up $0.91 during trading hours on Thursday, hitting $96.62. 1,096,840 shares of the stock were exchanged, compared to its average volume of 890,226. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63. The company has a market cap of $70.50 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. 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 company's fifty day simple moving average is $94.67 and its two-hundred day simple moving average is $88.78.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a yield of 4.69%. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. Bank of Montreal's payout ratio is currently 67.34%.

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.