Vise Technologies Inc. Acquires New Position in Bank of Montreal (NYSE:BMO)

Vise Technologies Inc. acquired a new stake in Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,777 shares of the bank’s stock, valued at approximately $210,000.

A number of other hedge funds have also recently modified their holdings of BMO. JFS Wealth Advisors LLC boosted its stake in Bank of Montreal by 346.4% during the first quarter. JFS Wealth Advisors LLC now owns 250 shares of the bank’s stock worth $29,000 after buying an additional 194 shares during the period. Glassman Wealth Services boosted its stake in Bank of Montreal by 56.3% during the fourth quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock worth $31,000 after buying an additional 103 shares during the period. DeDora Capital Inc. purchased a new position in Bank of Montreal during the first quarter worth about $32,000. CWM LLC boosted its stake in Bank of Montreal by 163.8% during the first quarter. CWM LLC now owns 277 shares of the bank’s stock worth $33,000 after buying an additional 172 shares during the period. Finally, Selective Wealth Management Inc. purchased a new position in Bank of Montreal during the first quarter worth about $47,000. Hedge funds and other institutional investors own 42.52% of the company’s stock.

Bank of Montreal Stock Down 1.1 %

Shares of NYSE:BMO opened at $95.54 on Friday. The firm’s 50 day moving average price is $97.87 and its 200 day moving average price is $104.85. The stock has a market cap of $64.44 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17. Bank of Montreal has a fifty-two week low of $90.41 and a fifty-two week high of $122.77. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last issued its earnings results on Tuesday, August 30th. The bank reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.63. Bank of Montreal had a net margin of 30.66% and a return on equity of 16.07%. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter last year, the company earned $2.80 earnings per share. The firm’s revenue was down 19.3% compared to the same quarter last year. As a group, equities research analysts predict that Bank of Montreal will post 10.32 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be issued a dividend of $1.086 per share. The ex-dividend date of this dividend is Monday, October 31st. This represents a $4.34 dividend on an annualized basis and a yield of 4.55%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.08. Bank of Montreal’s dividend payout ratio (DPR) is presently 32.93%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BMO shares. Royal Bank of Canada lowered their target price on shares of Bank of Montreal from C$158.00 to C$151.00 in a research note on Wednesday, August 31st. Stifel Europe increased their price target on shares of Bank of Montreal from C$157.00 to C$160.00 in a research report on Thursday, May 26th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. TD Securities reduced their price target on shares of Bank of Montreal from C$160.00 to C$155.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. Finally, Desjardins reduced their price target on shares of Bank of Montreal from C$153.00 to C$150.00 in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.72.

Bank of Montreal Profile

(Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

Further Reading

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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