Bank of Montreal (NYSE:BMO) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 35.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,903 shares of the bank’s stock after selling 14,755 shares during the period. Crossmark Global Holdings Inc.’s holdings in Bank of Montreal were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BMO. Janney Montgomery Scott LLC boosted its stake in shares of Bank of Montreal by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 15,022 shares of the bank’s stock worth $1,467,000 after acquiring an additional 1,005 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Bank of Montreal during the first quarter worth $282,000. US Bancorp DE boosted its stake in Bank of Montreal by 4.6% during the first quarter. US Bancorp DE now owns 22,797 shares of the bank’s stock worth $2,227,000 after buying an additional 1,003 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in Bank of Montreal by 65.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,009 shares of the bank’s stock worth $392,000 after buying an additional 1,591 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Bank of Montreal by 7.5% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,167 shares of the bank’s stock worth $602,000 after buying an additional 428 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at $94.09 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The firm has a market cap of $68.64 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $100.12. The business’s fifty day simple moving average is $90.01 and its 200-day simple moving average is $88.04.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. Bank of Montreal’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. Equities analysts forecast that Bank of Montreal will post 8 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 4.77%. Bank of Montreal’s dividend payout ratio is presently 72.13%.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of recent research reports. Barclays lowered their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Scotiabank lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $123.00 to $112.00 in a research note on Wednesday, August 28th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, TD Securities lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average target price of $119.75.

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.