Harbour Investments Inc. Has $622,000 Holdings in Bank of Montreal (NYSE:BMO)

Harbour Investments Inc. increased its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 10.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,897 shares of the bank’s stock after purchasing an additional 641 shares during the period. Harbour Investments Inc.’s holdings in Bank of Montreal were worth $622,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in shares of Bank of Montreal during the third quarter valued at $2,686,000. Patten & Patten Inc. TN purchased a new position in Bank of Montreal during the 3rd quarter valued at about $210,000. Townsend & Associates Inc acquired a new position in shares of Bank of Montreal in the 3rd quarter valued at about $208,000. Fiera Capital Corp lifted its position in shares of Bank of Montreal by 1.5% in the third quarter. Fiera Capital Corp now owns 3,453,718 shares of the bank’s stock worth $312,054,000 after purchasing an additional 50,287 shares in the last quarter. Finally, Gold Investment Management Ltd. boosted its holdings in shares of Bank of Montreal by 1.3% during the third quarter. Gold Investment Management Ltd. now owns 20,905 shares of the bank’s stock worth $1,888,000 after purchasing an additional 268 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Trading Down 0.2 %

NYSE:BMO opened at $93.18 on Friday. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $100.12. The firm has a market cap of $67.98 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.40 and a beta of 1.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $90.66 and its 200-day moving average is $88.14.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. Equities analysts anticipate that Bank of Montreal will post 8 EPS for the current year.

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be issued a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 72.13%.

Analyst Upgrades and Downgrades

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

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.