Cambridge Investment Research Advisors Inc. Has $790,000 Stake in Bank of Montreal (NYSE:BMO)

Cambridge Investment Research Advisors Inc. lessened its stake in Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,716 shares of the bank’s stock after selling 477 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Bank of Montreal were worth $790,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMO. Gulf International Bank UK Ltd raised its position in Bank of Montreal by 1.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 6,173 shares of the bank’s stock worth $558,000 after purchasing an additional 100 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Bank of Montreal by 3.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,167 shares of the bank’s stock worth $278,000 after buying an additional 114 shares during the period. Vident Investment Advisory LLC boosted its stake in Bank of Montreal by 1.7% in the 1st quarter. Vident Investment Advisory LLC now owns 7,472 shares of the bank’s stock valued at $877,000 after buying an additional 122 shares in the last quarter. Baird Financial Group Inc. grew its position in Bank of Montreal by 0.4% in the third quarter. Baird Financial Group Inc. now owns 30,963 shares of the bank’s stock valued at $2,714,000 after acquiring an additional 131 shares during the period. Finally, TI Trust Inc. raised its stake in Bank of Montreal by 2.1% during the third quarter. TI Trust Inc. now owns 6,692 shares of the bank’s stock worth $586,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Bank of Montreal in a research note on Thursday. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $152.70.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $87.36 on Monday. The stock has a 50-day simple moving average of $88.37 and a 200 day simple moving average of $93.37. The stock has a market capitalization of $62.31 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 1.70 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.12. Bank of Montreal has a 12-month low of $81.57 and a 12-month high of $110.67.

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last announced its earnings results on Tuesday, February 28th. The bank reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.06. Bank of Montreal had a net margin of 22.13% and a return on equity of 13.65%. The company had revenue of $4.80 billion during the quarter. On average, research analysts anticipate that Bank of Montreal will post 9.76 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, April 28th will be paid a $1.075 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.05. This represents a $4.30 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, April 27th. Bank of Montreal’s dividend payout ratio (DPR) is 34.50%.

About Bank of Montreal

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Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C) and United States Personal and Commercial Banking (U.S. P&C). The Canadian P&C segment refers to retail banking and financial operations in Canada.