Silver Lake Advisory LLC Lowers Position in Bank Of Montreal $BMO

Silver Lake Advisory LLC lessened its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 33.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,858 shares of the bank’s stock after selling 9,523 shares during the period. Silver Lake Advisory LLC’s holdings in Bank Of Montreal were worth $2,456,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BMO. State of Wyoming boosted its position in shares of Bank Of Montreal by 237.4% in the 1st quarter. State of Wyoming now owns 14,254 shares of the bank’s stock worth $1,361,000 after purchasing an additional 10,029 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Bank Of Montreal by 18.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock worth $82,015,000 after purchasing an additional 114,458 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Bank Of Montreal by 66.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after purchasing an additional 1,469,084 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Bank Of Montreal during the 1st quarter valued at about $1,886,000. Finally, Addenda Capital Inc. increased its stake in Bank Of Montreal by 9.5% during the 3rd quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after purchasing an additional 63,432 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on BMO shares. TD Securities reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Friday, December 5th. Royal Bank Of Canada lowered shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Natl Bk Canada lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.4%

Bank Of Montreal stock opened at $130.30 on Wednesday. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $132.96. The firm has a market capitalization of $92.41 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.08 and a beta of 0.95. The firm has a 50 day moving average of $125.91 and a 200 day moving average of $120.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $6.68 annualized dividend and a yield of 5.1%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s payout ratio is currently 57.35%.

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.