Caprock Group LLC Boosts Stock Position in Bank of Montreal (NYSE:BMO)

Caprock Group LLC grew its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,046 shares of the bank’s stock after purchasing an additional 244 shares during the quarter. Caprock Group LLC’s holdings in Bank of Montreal were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BMO. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal in the second quarter worth $34,000. Rothschild Investment LLC bought a new stake in Bank of Montreal in the 2nd quarter valued at about $40,000. GHP Investment Advisors Inc. boosted its position in Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 buying an additional 451 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BMO. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. Barclays lowered their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Trading Up 0.3 %

Shares of Bank of Montreal stock opened at $94.92 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $100.12. The firm has a market cap of $69.25 billion, a PE ratio of 14.95, a PEG ratio of 2.56 and a beta of 1.10. The company has a 50 day simple moving average of $91.87 and a two-hundred day simple moving average of $88.22.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results 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). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter last year, the firm posted $2.08 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Analysts expect that Bank of Montreal will post 7.4 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, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 4.73%. Bank of Montreal’s dividend payout ratio (DPR) is presently 72.13%.

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.