Allianz Asset Management GmbH Sells 101,076 Shares of Bank of Montreal (NYSE:BMO)

Allianz Asset Management GmbH trimmed its position in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 68.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,662 shares of the bank’s stock after selling 101,076 shares during the quarter. Allianz Asset Management GmbH’s holdings in Bank of Montreal were worth $4,589,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Bank of Montreal in the 4th quarter valued at $33,000. Cullen Frost Bankers Inc. raised its stake in Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after acquiring an additional 405 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Bank of Montreal by 63.5% in 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 last quarter. Headlands Technologies LLC acquired a new stake in shares of Bank of Montreal in the 4th quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after purchasing an additional 130 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Stock Down 0.8 %

Shares of NYSE BMO opened at $86.82 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The firm has a market cap of $63.31 billion, a PE ratio of 14.42, a P/E/G ratio of 2.35 and a beta of 1.12. The company’s fifty day simple moving average is $93.23 and its 200 day simple moving average is $92.86. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be paid a $1.125 dividend. The ex-dividend date is Tuesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 5.18%. Bank of Montreal’s dividend payout ratio (DPR) is currently 74.25%.

Analysts Set New Price Targets

A number of analysts have weighed in on BMO shares. Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $137.00 to $124.00 in a research report on Monday. Jefferies Financial Group began coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Barclays assumed coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. Finally, raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Get Our Latest Report on Bank of Montreal

Bank of Montreal Profile

(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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