Janney Montgomery Scott LLC Invests $1.34 Million in Bank of Montreal (NYSE:BMO)

Janney Montgomery Scott LLC purchased a new position in Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,269 shares of the bank’s stock, valued at approximately $1,338,000.

A number of other hedge funds have also modified their holdings of the stock. Vident Investment Advisory LLC increased its stake in shares of Bank of Montreal by 1.7% in the first quarter. Vident Investment Advisory LLC now owns 7,472 shares of the bank’s stock worth $877,000 after acquiring an additional 122 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in Bank of Montreal by 16.0% in the third quarter. Pacifica Partners Inc. now owns 893 shares of the bank’s stock worth $79,000 after purchasing an additional 123 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Bank of Montreal by 4.8% in the second quarter. Parallel Advisors LLC now owns 2,743 shares of the bank’s stock worth $264,000 after purchasing an additional 125 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Bank of Montreal by 3.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 4,093 shares of the bank’s stock worth $394,000 after purchasing an additional 128 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in Bank of Montreal by 3.4% in the third quarter. Archford Capital Strategies LLC now owns 3,938 shares of the bank’s stock worth $345,000 after purchasing an additional 129 shares in the last quarter. 42.78% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Stock Up 0.7 %

NYSE BMO opened at $97.95 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day simple moving average of $94.60 and a 200 day simple moving average of $94.67. Bank of Montreal has a twelve month low of $81.57 and a twelve month high of $122.77. The stock has a market cap of $68.88 billion, a PE ratio of 6.31, a PEG ratio of 1.48 and a beta of 1.13.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Monday, January 30th will be paid a $1.0548 dividend. This represents a $4.22 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, January 27th. Bank of Montreal’s payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, December 7th. Credit Suisse Group began coverage on shares of Bank of Montreal in a report on Monday, December 19th. They set an “outperform” rating for the company. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a report on Monday, December 12th. Bank Of America (Bofa) cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a report on Monday, December 12th. Finally, BMO Capital Markets upped their price target on shares of Bank of Montreal from C$148.00 to C$151.00 in a report on Friday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and an average target price of $159.75.

About Bank of Montreal

(Get Rating)

Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, 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.

Featured Stories

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

Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.