Bank of Montreal (NYSE:BMO) is TD Asset Management Inc.'s 10th Largest Position

TD Asset Management Inc. lifted its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,615,141 shares of the bank's stock after acquiring an additional 486,984 shares during the quarter. Bank of Montreal accounts for about 1.5% of TD Asset Management Inc.'s holdings, making the stock its 10th biggest position. TD Asset Management Inc. owned about 2.41% of Bank of Montreal worth $1,709,215,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMO. IFP Advisors Inc boosted its stake in shares of Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after acquiring an additional 201 shares during the last quarter. Addison Advisors LLC boosted its stake 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 worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal during the fourth quarter worth about $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal in the third quarter valued at approximately $45,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of 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 buying an additional 358 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Remove Ads

Bank of Montreal Stock Down 1.3 %

Shares of BMO traded down $1.23 during midday trading on Friday, reaching $95.81. 216,426 shares of the company were exchanged, compared to its average volume of 604,814. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The stock has a 50-day moving average price of $99.38 and a 200-day moving average price of $95.72. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market cap of $69.65 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.43 and a beta of 1.07.

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. 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 the consensus estimate of $8.58 billion. During the same period last year, the business posted $2.56 EPS. The company's revenue was up 20.8% on a year-over-year basis. Research analysts expect that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.63%. Bank of Montreal's dividend payout ratio (DPR) is presently 57.09%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMO. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Royal Bank of Canada upped their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Cibc World Mkts raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Finally, Scotiabank upgraded shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. Seven equities 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.