Bank of Montreal (NYSE:BMO) Holdings Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 151.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,321 shares of the bank's stock after acquiring an additional 14,658 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Bank of Montreal were worth $2,360,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake 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 period. FMR LLC raised its stake in Bank of Montreal by 14.2% during the third quarter. FMR LLC now owns 5,046,721 shares of the bank's stock worth $455,397,000 after purchasing an additional 625,797 shares during the period. The Manufacturers Life Insurance Company raised its stake in Bank of Montreal by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank's stock worth $432,823,000 after purchasing an additional 114,909 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 acquiring an additional 3,074,389 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of Bank of Montreal by 7.2% in the 4th quarter. Fiera Capital Corp now owns 3,701,814 shares of the bank's stock valued at $358,991,000 after acquiring an additional 248,096 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BMO shares. Royal Bank of Canada raised their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Finally, CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $128.40.

Bank of Montreal Stock Down 0.4 %

Bank of Montreal stock traded down $0.42 during midday trading on Tuesday, hitting $97.60. 468,802 shares of the stock were exchanged, compared to its average volume of 787,648. The firm has a market cap of $71.14 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $106.00. The company has a 50 day moving average price of $99.47 and a two-hundred day moving average price of $95.08.

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 for the quarter, topping the consensus estimate of $1.68 by $1.36. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the business earned $2.56 EPS. On average, sell-side analysts predict that Bank of Montreal will post 7.71 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, May 27th. Shareholders 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 yield of 4.55%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is currently 57.09%.

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.