180 Wealth Advisors LLC Makes New $220,000 Investment in Bank of Montreal (NYSE:BMO)

180 Wealth Advisors LLC bought a new position in shares of Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,272 shares of the bank’s stock, valued at approximately $220,000.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC lifted its holdings in shares of Bank of Montreal by 346.4% during the 1st quarter. JFS Wealth Advisors LLC now owns 250 shares of the bank’s stock valued at $29,000 after purchasing an additional 194 shares in the last quarter. Glassman Wealth Services lifted its holdings in shares of Bank of Montreal by 56.3% during the 4th quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock valued at $31,000 after purchasing an additional 103 shares in the last quarter. DeDora Capital Inc. bought a new position in shares of Bank of Montreal during the 1st quarter valued at about $32,000. CWM LLC lifted its holdings in shares of Bank of Montreal by 163.8% during the 1st quarter. CWM LLC now owns 277 shares of the bank’s stock valued at $33,000 after purchasing an additional 172 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new position in shares of Bank of Montreal during the 1st quarter valued at about $47,000. Institutional investors own 42.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Securities cut their price objective on Bank of Montreal from C$160.00 to C$155.00 and set a “buy” rating on the stock in a report on Thursday, May 26th. Royal Bank of Canada dropped their target price on Bank of Montreal from C$158.00 to C$151.00 in a research report on Wednesday, August 31st. BMO Capital Markets lowered Bank of Montreal from a “buy” rating to a “reduce” rating and dropped their target price for the company from C$152.50 to C$150.50 in a research report on Wednesday, August 31st. Desjardins dropped their target price on Bank of Montreal from C$153.00 to C$150.00 in a research report on Wednesday, August 31st. Finally, StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.72.

Bank of Montreal Stock Performance

BMO opened at $95.54 on Monday. The business has a fifty day simple moving average of $97.83 and a 200 day simple moving average of $104.64. The company has a market capitalization of $64.44 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. Bank of Montreal has a 1 year low of $90.41 and a 1 year high of $122.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 30th. The bank reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.63. The business had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.87 billion. Bank of Montreal had a return on equity of 16.07% and a net margin of 30.66%. The firm’s quarterly revenue was down 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 EPS. Research analysts expect that Bank of Montreal will post 10.32 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Tuesday, November 1st will be paid a $1.086 dividend. The ex-dividend date of this dividend is Monday, October 31st. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.08. This represents a $4.34 annualized dividend and a yield of 4.55%. Bank of Montreal’s payout ratio is 32.93%.

Bank of Montreal Company 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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