Van ECK Associates Corp lifted its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 195,213 shares of the bank's stock after buying an additional 4,958 shares during the period. Van ECK Associates Corp's holdings in Bank of Montreal were worth $18,939,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in BMO. Wilmington Savings Fund Society FSB acquired a new position in Bank of Montreal in the 3rd quarter valued at about $45,000. GHP Investment Advisors Inc. increased its stake in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock valued at $50,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank's stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Bank of Montreal by 47.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock valued at $66,000 after acquiring an additional 219 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Bank of Montreal during the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 45.82% of the company's stock.
Bank of Montreal Stock Down 0.3 %
Shares of Bank of Montreal stock traded down $0.30 on Wednesday, hitting $101.04. 331,703 shares of the company's stock traded hands, compared to its average volume of 585,188. The stock has a market cap of $73.64 billion, a P/E ratio of 14.48, a PEG ratio of 1.42 and a beta of 1.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average is $98.58 and its 200 day moving average is $92.96. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63.
Bank of Montreal Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be given a dividend of $1.1329 per share. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal's dividend payout ratio is currently 63.32%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on BMO shares. Royal Bank of Canada raised shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a report on Tuesday, February 11th. Finally, Cibc World Mkts upgraded 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $128.00.
Check Out Our Latest Report on BMO
About Bank of Montreal
(
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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