Westwood Holdings Group Inc. Takes Position in Bank of Montreal (NYSE:BMO)

Westwood Holdings Group Inc. acquired a new stake in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,336 shares of the bank’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Corient Private Wealth LLC increased its position 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 period. Bank of Nova Scotia Trust Co. increased its position in shares of Bank of Montreal by 3.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 463,792 shares of the bank’s stock valued at $45,888,000 after acquiring an additional 14,735 shares during the period. Triasima Portfolio Management inc. increased its position in shares of Bank of Montreal by 18.9% in the 4th quarter. Triasima Portfolio Management inc. now owns 486,421 shares of the bank’s stock valued at $48,219,000 after acquiring an additional 77,285 shares during the period. Intact Investment Management Inc. increased its position in shares of Bank of Montreal by 12.9% in the 4th quarter. Intact Investment Management Inc. now owns 726,141 shares of the bank’s stock valued at $71,852,000 after acquiring an additional 82,900 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Bank of Montreal by 1.9% in the 4th quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock valued at $655,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Shares of BMO opened at $84.46 on Tuesday. 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 quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $61.59 billion, a P/E ratio of 14.03, a P/E/G ratio of 2.24 and a beta of 1.12. The business’s 50-day moving average is $92.49 and its two-hundred day moving average is $93.04.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be given a dividend of $1.125 per share. The ex-dividend date is Tuesday, July 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.33%. Bank of Montreal’s dividend payout ratio (DPR) is 74.25%.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on Bank of Montreal

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.

See Also

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

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