Bank of Montreal (NYSE:BMO) Shares Sold by Ossiam

Ossiam decreased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,615 shares of the bank's stock after selling 23,583 shares during the quarter. Ossiam's holdings in Bank of Montreal were worth $5,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc raised its stake in Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC raised its position in shares of Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after buying an additional 246 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB acquired a new position in Bank of Montreal in the third quarter valued at approximately $45,000. Finally, First Horizon Advisors Inc. grew its position in Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank of Montreal Stock Up 2.0 %

BMO traded up $1.83 during trading hours on Tuesday, hitting $94.13. 2,597,183 shares of the company's stock were exchanged, compared to its average volume of 870,956. The company has a current ratio of 0.98, a quick 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 cap of $68.15 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. The firm has a 50 day moving average of $96.52 and a 200 day moving average of $96.28.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same period last year, the firm earned $2.56 earnings per share. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. Analysts predict that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be paid a $1.1094 dividend. This represents a $4.44 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's payout ratio is presently 57.35%.

Analyst Ratings Changes

Several equities analysts have recently commented on BMO shares. CIBC lowered Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Friday, April 4th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada lifted their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $128.40.

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.