Mutual Advisors LLC Has $1.88 Million Position in Bank of Montreal (NYSE:BMO)

Mutual Advisors LLC increased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 58.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,118 shares of the bank's stock after acquiring an additional 7,411 shares during the quarter. Mutual Advisors LLC's holdings in Bank of Montreal were worth $1,879,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BMO. First Trust Direct Indexing L.P. lifted its stake in Bank of Montreal by 4.0% in the first quarter. First Trust Direct Indexing L.P. now owns 7,975 shares of the bank's stock valued at $779,000 after buying an additional 305 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Bank of Montreal by 52.6% in the first quarter. Maryland State Retirement & Pension System now owns 37,503 shares of the bank's stock valued at $3,398,000 after purchasing an additional 12,935 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Bank of Montreal by 10.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,429 shares of the bank's stock worth $335,000 after buying an additional 327 shares during the period. Janney Montgomery Scott LLC raised its position in Bank of Montreal by 7.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,022 shares of the bank's stock valued at $1,467,000 after buying an additional 1,005 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Bank of Montreal in the 1st quarter valued at approximately $542,000. Institutional investors own 45.82% of the company's stock.

Bank of Montreal Stock Performance

NYSE BMO traded down $0.36 on Friday, reaching $90.76. The stock had a trading volume of 514,417 shares, compared to its average volume of 904,683. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $66.21 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.53 and a beta of 1.11. The firm has a fifty day moving average of $88.95 and a two-hundred day moving average of $88.10. Bank of Montreal has a 1-year low of $76.33 and a 1-year high of $100.12.

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

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal's payout ratio is currently 72.13%.

Analyst Ratings Changes

A number of brokerages have recently commented on BMO. StockNews.com lowered shares of Bank of Montreal from a "hold" rating to a "sell" rating in a research report on Thursday, August 29th. TD Securities downgraded Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Scotiabank downgraded Bank of Montreal from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. Bank of America cut shares of Bank of Montreal from a "buy" rating to a "neutral" rating and dropped their target price for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. Finally, Royal Bank of Canada cut Bank of Montreal from an "outperform" rating to a "sector perform" rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $119.75.

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.