Bank Of Montreal $BMO Holdings Reduced by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 16.6% in the third quarter, Holdings Channel.com reports. The firm owned 143,429 shares of the bank’s stock after selling 28,469 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Bank Of Montreal were worth $24,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Bank Of Montreal in the 2nd quarter worth $1,281,220,000. Caisse de depot et placement du Quebec acquired a new position in shares of Bank Of Montreal during the second quarter valued at about $957,549,000. Bank of Nova Scotia acquired a new position in shares of Bank Of Montreal during the second quarter valued at about $920,002,000. Legal & General Group Plc bought a new stake in shares of Bank Of Montreal in the second quarter valued at about $744,214,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bank Of Montreal in the second quarter valued at about $677,074,000. 45.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMO. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods started coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, September 29th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bank Of Montreal presently has an average rating of “Hold” and a consensus price target of $244.00.

Bank Of Montreal Price Performance

Shares of BMO stock traded up $1.43 during mid-day trading on Tuesday, reaching $165.31. The company’s stock had a trading volume of 405,319 shares, compared to its average volume of 795,380. The firm’s 50-day moving average is $173.69 and its two-hundred day moving average is $165.82. The company has a market cap of $114.90 billion, a P/E ratio of 18.66, a PEG ratio of 0.97 and a beta of 0.95. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.13. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.23 EPS. On average, research analysts predict that Bank Of Montreal will post 10.76 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a dividend of C$1.71 per share. The ex-dividend date is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 54.29%.

Bank Of Montreal Profile

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.