Rodgers Brothers Inc. increased its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 137.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,900 shares of the bank's stock after buying an additional 17,875 shares during the period. Rodgers Brothers Inc.'s holdings in Bank of Montreal were worth $2,999,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of BMO. Wellington Management Group LLP grew its position in shares of Bank of Montreal by 29.4% during the fourth quarter. Wellington Management Group LLP now owns 162,503 shares of the bank's stock worth $15,768,000 after acquiring an additional 36,931 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Bank of Montreal by 7.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 153,570 shares of the bank's stock valued at $14,893,000 after purchasing an additional 10,024 shares during the period. CIBC Private Wealth Group LLC grew its position in Bank of Montreal by 61.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 7,640 shares of the bank's stock worth $752,000 after purchasing an additional 2,897 shares during the last quarter. Intrust Bank NA acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at approximately $216,000. Finally, Beutel Goodman & Co Ltd. raised its holdings in shares of Bank of Montreal by 11.9% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,616,614 shares of the bank's stock valued at $642,016,000 after buying an additional 704,197 shares during the last quarter. Institutional investors own 45.82% of the company's stock.
Analyst Upgrades and Downgrades
BMO has been the topic of several analyst reports. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Scotiabank upgraded shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research note on Friday, December 6th. Royal Bank of Canada increased 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 report on Wednesday, February 26th. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, CIBC cut shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $128.40.
Get Our Latest Stock Report on BMO
Bank of Montreal Price Performance
Shares of NYSE BMO traded down $6.49 during trading on Friday, hitting $89.56. The company had a trading volume of 890,380 shares, compared to its average volume of 852,805. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00. The business's 50-day moving average is $99.03 and its 200 day moving average is $96.13. The company has a market cap of $65.11 billion, a P/E ratio of 12.85, a PEG ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. Bank of Montreal's revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 earnings per share. Equities research analysts predict that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.
Bank of Montreal Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is 57.09%.
Bank of Montreal Company Profile
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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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