Montrusco Bolton Investments Inc. Cuts Stake in Bank Of Montreal $BMO

Montrusco Bolton Investments Inc. lessened its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 204,967 shares of the bank’s stock after selling 3,476 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Bank Of Montreal were worth $27,674,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Bank Of Montreal during the 4th quarter valued at approximately $1,059,320,000. Morgan Stanley lifted its holdings in shares of Bank Of Montreal by 74.4% in the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after buying an additional 1,628,318 shares in the last quarter. UBS Group AG boosted its position in shares of Bank Of Montreal by 155.3% during the third quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after acquiring an additional 1,294,169 shares during the last quarter. FIL Ltd boosted its position in shares of Bank Of Montreal by 15.2% during the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank’s stock worth $1,226,622,000 after acquiring an additional 1,245,500 shares during the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Bank Of Montreal during the fourth quarter valued at $129,909,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $174.04 on Friday. The company has a market cap of $121.90 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.97 and a beta of 0.93. The firm’s fifty day moving average is $162.47 and its 200 day moving average is $146.95. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $178.70.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same period last year, the company posted $2.62 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given a $1.71 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Company 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.