Bank Of Montreal $BMO Position Lessened by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 478,120 shares of the bank’s stock after selling 46,902 shares during the period. Bank Of Montreal accounts for approximately 1.7% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 8th largest holding. Hillsdale Investment Management Inc.’s holdings in Bank Of Montreal were worth $62,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Code Waechter LLC lifted its stake in shares of Bank Of Montreal by 1.7% during the fourth quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after buying an additional 75 shares during the period. Larson Financial Group LLC lifted its stake in shares of Bank Of Montreal by 33.2% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after buying an additional 79 shares during the period. Naples Global Advisors LLC lifted its stake in shares of Bank Of Montreal by 0.5% during the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after buying an additional 80 shares during the period. Allworth Financial LP lifted its stake in shares of Bank Of Montreal by 4.6% during the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after buying an additional 94 shares during the period. Finally, Choreo LLC lifted its stake in shares of Bank Of Montreal by 3.6% during the third quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMO shares. Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research note on Thursday. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $162.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a market cap of $113.59 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.90 and a beta of 0.94. Bank Of Montreal has a fifty-two week low of $104.08 and a fifty-two week high of $163.75. The firm’s 50 day moving average is $148.07 and its two-hundred day moving average is $139.17.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. Bank Of Montreal’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.62 earnings per share. Analysts expect that Bank Of Montreal will post 11.73 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a dividend of $1.71 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s payout ratio is 53.40%.

Bank Of Montreal Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.