TIAA Trust National Association Acquires Shares of 8,032 Bank of Montreal (NYSE:BMO)

TIAA Trust National Association acquired a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,032 shares of the bank's stock, valued at approximately $780,000.

A number of other institutional investors have also recently made changes to their positions in the business. Passumpsic Savings Bank boosted its stake in shares of Bank of Montreal by 2.1% in the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank's stock valued at $464,000 after buying an additional 105 shares during the period. D.A. Davidson & CO. lifted its stake in Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank's stock worth $776,000 after acquiring an additional 113 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Bank of Montreal by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank's stock worth $278,000 after acquiring an additional 125 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in Bank of Montreal by 2.0% during the 4th quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank's stock worth $617,000 after acquiring an additional 125 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank's stock valued at $309,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

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Wall Street Analysts Forecast Growth

BMO has been the subject of a number of analyst reports. 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 upped their price objective on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Finally, Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.40.

Bank of Montreal Stock Performance

Shares of BMO stock traded up $0.97 during trading hours on Tuesday, hitting $96.48. The stock had a trading volume of 432,131 shares, compared to its average volume of 849,396. The stock's 50 day moving average is $99.16 and its 200 day moving average is $96.12. The firm has a market capitalization of $70.14 billion, a PE ratio of 13.82, a PEG ratio of 1.43 and a beta of 1.07. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. 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 (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. Bank of Montreal's quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 EPS. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a $1.1094 dividend. This represents a $4.44 annualized dividend and a yield of 4.60%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) is presently 57.09%.

Bank of Montreal 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.