Desjardins Global Asset Management Inc. Trims Stake in Bank of Montreal (NYSE:BMO)

Desjardins Global Asset Management Inc. decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 61.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,754 shares of the bank’s stock after selling 2,786 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Bank of Montreal were worth $174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. bought a new position in Bank of Montreal in the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Bank of Montreal by 192.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after buying an additional 219 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Montreal in the 3rd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of Montreal in the 3rd quarter worth $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Bank of Montreal in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

BMO has been the subject of a number of analyst reports. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Jefferies Financial Group initiated coverage on Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, Barclays initiated coverage on Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.00.

Bank of Montreal Stock Up 0.0 %

Shares of NYSE BMO opened at $90.99 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $66.35 billion, a P/E ratio of 17.36, a PEG ratio of 1.75 and a beta of 1.13. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The firm has a 50-day simple moving average of $94.22 and a two-hundred day simple moving average of $89.67.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. Research analysts anticipate that Bank of Montreal will post 8.94 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a dividend of $1.1172 per share. The ex-dividend date is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.91%. Bank of Montreal’s dividend payout ratio (DPR) is 62.02%.

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.