Legal & General Group Plc reduced its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,244,870 shares of the bank's stock after selling 1,140,833 shares during the quarter. Legal & General Group Plc owned about 0.58% of Bank of Montreal worth $411,884,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of Bank of Montreal by 47.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,057 shares of the bank's stock worth $366,000 after purchasing an additional 1,314 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Bank of Montreal in the third quarter valued at about $357,000. Quantinno Capital Management LP boosted its holdings in Bank of Montreal by 9.6% during the third quarter. Quantinno Capital Management LP now owns 9,122 shares of the bank's stock worth $823,000 after buying an additional 802 shares in the last quarter. Stifel Financial Corp grew its position in Bank of Montreal by 2.4% during the third quarter. Stifel Financial Corp now owns 146,232 shares of the bank's stock worth $13,190,000 after buying an additional 3,496 shares during the period. Finally, Wellington Management Group LLP increased its holdings 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 buying an additional 55,823 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Montreal Price Performance
Shares of NYSE:BMO traded up $2.13 on Friday, hitting $91.11. The company had a trading volume of 910,159 shares, compared to its average volume of 864,765. 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 company has a market cap of $66.24 billion, a PE ratio of 13.05, a PEG ratio of 1.43 and a beta of 0.95. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00. The business has a 50 day moving average of $97.42 and a 200 day moving average of $96.22.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $1.36. The company had revenue of $9.27 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $2.56 EPS. As a group, equities analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.
Bank of Montreal Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders 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 annualized dividend and a yield of 4.87%. Bank of Montreal's dividend payout ratio (DPR) is presently 57.09%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on BMO shares. Royal Bank of Canada boosted their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, CIBC lowered shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $128.40.
Read Our Latest Report on BMO
Bank of Montreal Profile
(
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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