Northwest & Ethical Investments L.P. increased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,108 shares of the bank's stock after buying an additional 28,243 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Bank of Montreal were worth $13,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings 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 purchasing an additional 3,074,389 shares in the last quarter. Toronto Dominion Bank increased its position in 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 during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at approximately $760,000. FMR LLC lifted its stake in shares of Bank of Montreal by 14.2% in the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank's stock valued at $455,397,000 after purchasing an additional 625,797 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bank of Montreal during the fourth quarter valued at about $48,353,000. Institutional investors and hedge funds own 45.82% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on BMO. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. 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 price objective on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Seven 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $128.40.
Check Out Our Latest Stock Report on BMO
Bank of Montreal Price Performance
Shares of NYSE BMO traded up $0.64 during trading on Monday, reaching $97.34. The company had a trading volume of 608,633 shares, compared to its average volume of 793,415. 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 $70.77 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. The stock has a 50-day moving average price of $99.45 and a two-hundred day moving average price of $95.58.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the business posted $2.56 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Bank of Montreal will post 7.71 earnings per share for the current year.
Bank of Montreal Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. This represents a $4.44 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) is 57.09%.
About Bank of Montreal
(
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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