Cerity Partners LLC Invests $639,000 in Bank of Montreal (NYSE:BMO)

Cerity Partners LLC purchased a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, HoldingsChannel reports. The fund purchased 6,459 shares of the bank’s stock, valued at approximately $639,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Montreal by 192.1% during the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock worth $28,000 after purchasing an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Bank of Montreal during the third quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Bank of Montreal during the third quarter worth $33,000. Crewe Advisors LLC raised its holdings in shares of Bank of Montreal by 63.5% during the third quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after acquiring an additional 200 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of Bank of Montreal by 177.4% during the fourth quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock worth $50,000 after acquiring an additional 337 shares during the period. 45.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMO shares. Barclays started coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating on the stock. Jefferies Financial Group started coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the 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 Stock Up 0.9 %

Bank of Montreal stock opened at $93.82 on Wednesday. The firm has a market capitalization of $68.42 billion, a PE ratio of 17.90, a P/E/G ratio of 1.76 and a beta of 1.13. The company’s 50-day moving average is $94.26 and its 200-day moving average is $90.05. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94.

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

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a dividend of $1.1172 per share. The ex-dividend date is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 annualized dividend and a dividend yield of 4.76%. Bank of Montreal’s payout ratio is currently 62.02%.

Bank of Montreal Profile

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.