Bank of Montreal (NYSE:BMO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,599 shares of the bank’s stock after selling 20,551 shares during the quarter. Wells Fargo & Company MN’s holdings in Bank of Montreal were worth $10,871,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BMO. Beutel Goodman & Co Ltd. increased its position in Bank of Montreal by 13.6% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 5,755,777 shares of the bank’s stock worth $572,303,000 after purchasing an additional 690,341 shares in the last quarter. UBS Group AG increased its position in Bank of Montreal by 28.9% during the 4th quarter. UBS Group AG now owns 273,483 shares of the bank’s stock worth $27,058,000 after purchasing an additional 61,280 shares in the last quarter. Norges Bank purchased a new stake in Bank of Montreal during the 4th quarter worth about $812,644,000. NorthRock Partners LLC increased its position in Bank of Montreal by 6.8% during the 4th quarter. NorthRock Partners LLC now owns 17,816 shares of the bank’s stock worth $1,771,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Fiera Capital Corp increased its position in Bank of Montreal by 0.3% during the 4th quarter. Fiera Capital Corp now owns 3,124,872 shares of the bank’s stock worth $309,175,000 after purchasing an additional 8,011 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BMO shares. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Barclays started coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. Jefferies Financial Group started coverage on Bank of Montreal in a report on Thursday, February 22nd. They issued a “buy” rating for the company. Keefe, Bruyette & Woods cut Bank of Montreal from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $137.00 to $124.00 in a report on Monday. Finally, Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bank of Montreal currently has a consensus rating of “Moderate Buy” and an average price target of $127.50.

Check Out Our Latest Research Report on BMO

Bank of Montreal Stock Performance

NYSE BMO opened at $88.95 on Tuesday. The firm has a market capitalization of $64.87 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.35 and a beta of 1.13. Bank of Montreal has a 1-year low of $0.73 and a 1-year high of $100.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day simple moving average is $93.59 and its 200-day simple moving average is $92.86.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a dividend of $1.125 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a yield of 5.06%. Bank of Montreal’s payout ratio is 74.58%.

About Bank of Montreal

(Free Report)

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.

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

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