Bank of Montreal (NYSE:BMO) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its stake in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,678 shares of the bank’s stock after selling 536 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Bank of Montreal were worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in 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 in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Bank of Montreal by 72.6% in the 4th quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock valued at $3,226,000 after acquiring an additional 13,718 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Bank of Montreal in the 4th quarter valued at $95,299,000. Beutel Goodman & Co Ltd. boosted its holdings in shares of Bank of Montreal by 13.6% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 5,755,777 shares of the bank’s stock valued at $572,303,000 after acquiring an additional 690,341 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Bank of Montreal by 28.9% in the 4th quarter. UBS Group AG now owns 273,483 shares of the bank’s stock valued at $27,058,000 after acquiring an additional 61,280 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

BMO opened at $86.53 on Friday. 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 company has a market cap of $63.10 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.31 and a beta of 1.12. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The firm’s fifty day simple moving average is $93.01 and its two-hundred day simple moving average is $92.82.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 5.20%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 74.25%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research 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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