Voya Investment Management LLC Decreases Stock Position in Bank Of Montreal $BMO

Voya Investment Management LLC lessened its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,450 shares of the bank’s stock after selling 6,738 shares during the quarter. Voya Investment Management LLC’s holdings in Bank Of Montreal were worth $2,926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BMO. WFA of San Diego LLC purchased a new position in Bank Of Montreal in the 2nd quarter worth $28,000. Bayforest Capital Ltd purchased a new position in Bank Of Montreal during the 1st quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in Bank Of Montreal during the 1st quarter worth approximately $39,000. Harbor Asset Planning Inc. acquired a new stake in Bank Of Montreal during the 2nd quarter valued at approximately $39,000. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Bank Of Montreal by 40.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Securities restated a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. Natl Bk Canada cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Tuesday. Raymond James Financial started coverage on Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating for the company. Finally, CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. One 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. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $130.94 on Friday. The stock has a market capitalization of $92.86 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.09 and a beta of 0.95. The stock has a 50-day moving average of $126.19 and a 200 day moving average of $120.85. 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 has a twelve month low of $85.40 and a twelve month high of $132.96.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 earnings per share. Sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be given a dividend of $1.67 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 58.58%.

About Bank Of Montreal

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.