Bank of Montreal (NYSE:BMO) is Cardinal Capital Management Inc.'s 9th Largest Position

Cardinal Capital Management Inc. grew its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 4.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,298,627 shares of the bank's stock after buying an additional 60,155 shares during the period. Bank of Montreal makes up 4.8% of Cardinal Capital Management Inc.'s portfolio, making the stock its 9th largest holding. Cardinal Capital Management Inc. owned approximately 0.18% of Bank of Montreal worth $117,326,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal in the second quarter worth about $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal during the second quarter worth $40,000. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of Montreal by 34.6% during the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank's stock valued at $56,000 after purchasing an additional 160 shares during the period. Olistico Wealth LLC bought a new position in shares of Bank of Montreal in the second quarter worth about $59,000. Finally, Crewe Advisors LLC purchased a new position in Bank of Montreal in the 1st quarter worth about $70,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Stock Up 1.6 %

Shares of BMO stock traded up $1.47 during trading hours on Friday, reaching $92.67. 1,735,093 shares of the company's stock were exchanged, compared to its average volume of 884,516. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12. The stock's 50 day moving average is $86.25 and its 200-day moving average is $88.39. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market cap of $67.60 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 2.47 and a beta of 1.11.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts' consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. Bank of Montreal's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. Analysts predict that Bank of Montreal will post 8.06 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be issued a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal's dividend payout ratio (DPR) is presently 71.34%.

Analyst Ratings Changes

BMO has been the topic of several research reports. Scotiabank downgraded Bank of Montreal from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. TD Securities lowered shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Royal Bank of Canada downgraded shares of Bank of Montreal from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, July 30th. UBS Group started coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a "neutral" rating for the company. Finally, StockNews.com cut Bank of Montreal from a "hold" rating to a "sell" rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $119.75.

About Bank of Montreal

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.