Jones Financial Companies Lllp Has $760,000 Stake in Bank of Montreal (NYSE:BMO)

Jones Financial Companies Lllp increased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 80.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,833 shares of the bank's stock after purchasing an additional 3,502 shares during the quarter. Jones Financial Companies Lllp's holdings in Bank of Montreal were worth $760,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMO. Bank of New York Mellon Corp boosted its position in Bank of Montreal by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 708,767 shares of the bank's stock worth $68,786,000 after purchasing an additional 40,135 shares during the period. Heck Capital Advisors LLC acquired a new position in Bank of Montreal during the 4th quarter worth approximately $346,000. Five Oceans Advisors purchased a new position in Bank of Montreal in the 4th quarter worth approximately $327,000. Wellington Management Group LLP grew its position in Bank of Montreal by 80.0% in the third quarter. Wellington Management Group LLP now owns 125,572 shares of the bank's stock valued at $11,344,000 after acquiring an additional 55,823 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Bank of Montreal by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank's stock valued at $300,137,000 after acquiring an additional 144,252 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

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Bank of Montreal Stock Performance

Shares of Bank of Montreal stock traded up $1.61 during midday trading on Wednesday, hitting $96.86. The company had a trading volume of 330,727 shares, compared to its average volume of 628,452. The business's 50 day simple moving average is $99.45 and its two-hundred day simple moving average is $94.72. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. 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 cap of $70.60 billion, a PE ratio of 13.88, a P/E/G ratio of 1.43 and a beta of 1.07.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $2.56 EPS. As a group, equities analysts predict that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.58%. Bank of Montreal's dividend payout ratio is presently 57.09%.

Analyst Ratings Changes

A number of research firms have weighed in on BMO. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Finally, Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of "Moderate Buy" and an average price target of $128.40.

Bank of Montreal Company 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.