Bank of Montreal (NYSE:BMO) is Mufg Securities Canada LTD.'s 8th Largest Position

Mufg Securities Canada LTD. raised its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 72.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,114,100 shares of the bank's stock after purchasing an additional 466,755 shares during the period. Bank of Montreal comprises about 3.9% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its 8th largest position. Mufg Securities Canada LTD. owned about 0.15% of Bank of Montreal worth $108,087,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BMO. Bank of New York Mellon Corp grew its position in shares of Bank of Montreal by 6.0% in the fourth quarter. Bank of New York Mellon Corp now owns 708,767 shares of the bank's stock valued at $68,786,000 after purchasing an additional 40,135 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Bank of Montreal by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,716 shares of the bank's stock valued at $185,694,000 after buying an additional 64,799 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Bank of Montreal by 58.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,618 shares of the bank's stock valued at $448,000 after acquiring an additional 1,703 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Bank of Montreal during the 4th quarter worth about $346,000. Finally, Five Oceans Advisors acquired a new stake in shares of Bank of Montreal in the fourth quarter worth approximately $327,000. 45.82% of the stock is owned by institutional investors and hedge funds.

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Bank of Montreal Stock Down 1.8 %

Shares of NYSE BMO traded down $1.77 on Friday, hitting $95.26. The company had a trading volume of 588,322 shares, compared to its average volume of 851,849. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $106.00. The firm has a market capitalization of $69.26 billion, a P/E ratio of 13.65, a PEG ratio of 1.43 and a beta of 1.07. The business has a 50 day moving average of $99.30 and a two-hundred day moving average of $95.89.

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 for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the prior year, the business earned $2.56 EPS. Bank of Montreal's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a dividend of $1.1094 per share. This represents a $4.44 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) is 57.09%.

Analysts Set New Price Targets

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

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.