Wellington Management Group LLP Increases Stake in Bank of Montreal (NYSE:BMO)

Wellington Management Group LLP increased its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 80.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,572 shares of the bank's stock after purchasing an additional 55,823 shares during the period. Wellington Management Group LLP's holdings in Bank of Montreal were worth $11,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMO. Pathway Financial Advisers LLC grew its position in shares of Bank of Montreal by 2,701.7% during the third quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank's stock valued at $2,747,000 after purchasing an additional 29,367 shares in the last quarter. Newport Trust Company LLC increased its stake in Bank of Montreal by 1.1% in the 2nd quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank's stock worth $118,371,000 after acquiring an additional 14,809 shares during the last quarter. Intact Investment Management Inc. increased its stake in Bank of Montreal by 72.9% in the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank's stock worth $53,082,000 after acquiring an additional 248,098 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of Bank of Montreal by 2.1% during the 2nd quarter. Fiera Capital Corp now owns 3,403,431 shares of the bank's stock worth $285,789,000 after acquiring an additional 69,111 shares in the last quarter. Finally, Cardinal Capital Management Inc. boosted its position in shares of Bank of Montreal by 4.9% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank's stock valued at $117,326,000 after acquiring an additional 60,155 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Trading Down 0.4 %

Bank of Montreal stock traded down $0.39 during mid-day trading on Monday, hitting $98.63. The company's stock had a trading volume of 703,504 shares, compared to its average volume of 890,044. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average of $94.39 and a 200-day moving average of $88.67. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The stock has a market cap of $71.97 billion, a PE ratio of 14.13, a P/E/G ratio of 1.42 and a beta of 1.10.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.59%. Bank of Montreal's dividend payout ratio (DPR) is 67.34%.

Analysts Set New Price Targets

BMO has been the topic of several research reports. Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Jefferies Financial Group downgraded shares of Bank of Montreal from a "buy" rating to a "hold" rating in a report on Tuesday, August 27th. Bank of America cut Bank of Montreal from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Barclays decreased their price objective on Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $133.00 target price (up previously from $106.00) on shares of Bank of Montreal in a research report on Friday, December 6th. Eight 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $122.40.

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.