Spartan Fund Management Inc. bought a new position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,200 shares of the bank's stock, valued at approximately $1,378,000. Bank of Montreal comprises 5.1% of Spartan Fund Management Inc.'s portfolio, making the stock its 6th biggest holding.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BMO. IFP Advisors Inc boosted its holdings in shares of Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC raised its position in shares of Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after buying an additional 246 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Bank of Montreal in the 4th quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new position in Bank of Montreal in the third quarter valued at $45,000. Finally, First Horizon Advisors Inc. grew its position in Bank of Montreal by 140.9% during the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after acquiring an additional 358 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on BMO. CIBC downgraded Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. Cibc World Mkts cut shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Royal Bank of Canada increased their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $128.40.
Get Our Latest Report on BMO
Bank of Montreal Price Performance
Shares of BMO stock opened at $94.13 on Wednesday. The firm has a fifty day simple moving average of $96.52 and a 200-day simple moving average of $96.28. The company has a market capitalization of $68.15 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. 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 (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share 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 company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm earned $2.56 earnings per share. The company's revenue was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.
Bank of Montreal Cuts Dividend
The firm 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. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.71%. Bank of Montreal's dividend payout ratio is presently 57.35%.
Bank of Montreal 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Bank of Montreal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Montreal wasn't on the list.
While Bank of Montreal currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
