Mn Services Vermogensbeheer B.V. reduced its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 6.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,100 shares of the bank's stock after selling 11,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Bank of Montreal were worth $14,011,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. boosted its holdings in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock worth $50,000 after acquiring an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Bank of Montreal by 34.6% during the 1st 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 last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after buying an additional 451 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.
Bank of Montreal Trading Up 1.4 %
Bank of Montreal stock traded up $1.25 during trading on Tuesday, hitting $91.31. The company had a trading volume of 563,513 shares, compared to its average volume of 904,625. 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 stock has a market cap of $66.61 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. Bank of Montreal has a 1-year low of $76.83 and a 1-year high of $100.12. The company's 50 day simple moving average is $89.18 and its 200-day simple moving average is $88.03.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $8.25 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Bank of Montreal will post 8 EPS for the current fiscal year.
Bank of Montreal Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal's dividend payout ratio is currently 72.13%.
Analyst Upgrades and Downgrades
BMO has been the topic of a number of recent research reports. Barclays lowered their target price on Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. Jefferies Financial Group cut shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. StockNews.com lowered Bank of Montreal from a "hold" rating to a "sell" rating in a report on Thursday, August 29th. TD Securities lowered Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Finally, Bank of America downgraded shares of Bank of Montreal from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. 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 has an average rating of "Hold" and an average target price of $119.75.
Read Our Latest Stock Report on Bank of Montreal
Bank of Montreal Company 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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