Bank of Montreal (NYSE:BMO) Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors cut its stake in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 38.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,863 shares of the bank’s stock after selling 1,800 shares during the quarter. Ibex Wealth Advisors’ holdings in Bank of Montreal were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AXA S.A. increased its stake in shares of Bank of Montreal by 9.3% in the 1st quarter. AXA S.A. now owns 109,745 shares of the bank’s stock worth $9,779,000 after acquiring an additional 9,335 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Bank of Montreal by 1.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 18,001 shares of the bank’s stock worth $1,604,000 after purchasing an additional 279 shares during the period. Stifel Financial Corp grew its holdings in shares of Bank of Montreal by 16.2% during the 1st quarter. Stifel Financial Corp now owns 63,443 shares of the bank’s stock worth $5,653,000 after purchasing an additional 8,828 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Bank of Montreal by 1.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,446,509 shares of the bank’s stock worth $484,465,000 after purchasing an additional 59,933 shares during the period. Finally, Candriam S.C.A. grew its holdings in shares of Bank of Montreal by 167.3% during the 1st quarter. Candriam S.C.A. now owns 247,787 shares of the bank’s stock worth $20,287,000 after purchasing an additional 155,075 shares during the period. 43.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BMO. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Barclays increased their price target on Bank of Montreal from $123.00 to $131.00 and gave the stock an “overweight” rating in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.25.

Check Out Our Latest Research Report on Bank of Montreal

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at $83.71 on Monday. The business has a 50-day moving average of $88.41 and a 200 day moving average of $88.68. Bank of Montreal has a 12 month low of $81.55 and a 12 month high of $102.79. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.96 and a quick ratio of 0.95.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Monday, October 30th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 5.30%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.09. The ex-dividend date is Friday, October 27th. Bank of Montreal’s dividend payout ratio (DPR) is 57.62%.

Bank of Montreal Profile

(Free Report)

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.

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

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