Sequoia Financial Advisors LLC Lowers Holdings in Bank of Montreal (NYSE:BMO)

Sequoia Financial Advisors LLC cut its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 24.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,102 shares of the bank’s stock after selling 1,030 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bank of Montreal were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. PCA Investment Advisory Services Inc. purchased a new stake in shares of Bank of Montreal during the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC raised its position in shares of Bank of Montreal by 192.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after buying an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Montreal during the 3rd quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of Montreal during the 3rd quarter valued at $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Bank of Montreal during the 1st quarter valued at $36,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BMO. Jefferies Financial Group began coverage on shares of Bank of Montreal in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Barclays started coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating on the stock. Finally, StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.00.

Bank of Montreal Price Performance

BMO stock opened at $90.99 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $100.12. The firm’s fifty day moving average is $94.22 and its 200 day moving average is $89.67. The firm has a market cap of $66.35 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.75 and a beta of 1.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. Research analysts predict that Bank of Montreal will post 8.94 earnings per share for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be issued a $1.1172 dividend. This represents a $4.47 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is 62.02%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.