UniSuper Management Pty Ltd Decreases Stake in Bank of Montreal (NYSE:BMO)

UniSuper Management Pty Ltd trimmed its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the bank's stock after selling 3,500 shares during the period. UniSuper Management Pty Ltd's holdings in Bank of Montreal were worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BMO. Vanguard Group Inc. boosted its position in shares of Bank of Montreal by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock worth $2,960,491,000 after purchasing an additional 576,744 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of Bank of Montreal by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank's stock worth $1,709,215,000 after buying an additional 486,984 shares during the period. Toronto Dominion Bank grew its holdings in shares of Bank of Montreal by 14.9% during the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock valued at $1,065,474,000 after buying an additional 1,534,508 shares during the last quarter. Fiera Capital Corp raised its stake in Bank of Montreal by 7.2% in the 4th quarter. Fiera Capital Corp now owns 3,701,814 shares of the bank's stock worth $358,991,000 after acquiring an additional 248,096 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Bank of Montreal by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 3,634,988 shares of the bank's stock worth $352,776,000 after acquiring an additional 307,523 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMO. Cibc World Mkts raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. CIBC lowered shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Friday. Finally, StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Bank of Montreal presently has an average rating of "Hold" and a consensus price target of $128.40.

Bank of Montreal Price Performance

Bank of Montreal stock traded down $6.78 during trading on Friday, reaching $89.27. The company had a trading volume of 1,636,526 shares, compared to its average volume of 855,556. The firm has a market capitalization of $64.90 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95. The firm's 50-day simple moving average is $98.79 and its 200 day simple moving average is $96.15. 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 has a 1-year low of $76.98 and a 1-year high of $106.00.

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 (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion for 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 company's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.56 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a $1.1094 dividend. This represents a $4.44 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's payout ratio is 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.