Varma Mutual Pension Insurance Co Sells 5,800 Shares of Bank Of Montreal $BMO

Varma Mutual Pension Insurance Co cut its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 143,329 shares of the bank’s stock after selling 5,800 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Bank Of Montreal were worth $18,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Code Waechter LLC increased its stake in shares of Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after purchasing an additional 75 shares in the last quarter. Allworth Financial LP lifted its position in Bank Of Montreal by 4.6% during the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after purchasing an additional 94 shares in the last quarter. Choreo LLC lifted its position in Bank Of Montreal by 3.6% during the third quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after purchasing an additional 95 shares in the last quarter. United Capital Financial Advisors LLC grew its holdings in Bank Of Montreal by 4.0% during the third quarter. United Capital Financial Advisors LLC now owns 2,619 shares of the bank’s stock valued at $341,000 after purchasing an additional 101 shares during the period. Finally, Signaturefd LLC increased its position in Bank Of Montreal by 1.0% in the fourth quarter. Signaturefd LLC now owns 10,714 shares of the bank’s stock worth $1,391,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BMO shares. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Raymond James Financial upgraded shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank Of Montreal in a report on Friday, April 17th. Finally, TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

Shares of NYSE BMO opened at $152.63 on Monday. The firm has a fifty day moving average price of $142.94 and a 200-day moving average price of $135.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $106.98 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.94. Bank Of Montreal has a 1 year low of $97.00 and a 1 year high of $154.48.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 earnings per share. Equities analysts anticipate that Bank Of Montreal will post 10.2 earnings per share for the current fiscal year.

Bank Of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.4%. Bank Of Montreal’s dividend payout ratio is 55.75%.

Bank Of Montreal 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.