Crewe Advisors LLC Reduces Stock Position in Bank of Montreal (NYSE:BMO)

Crewe Advisors LLC reduced its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 44.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400 shares of the bank’s stock after selling 315 shares during the quarter. Crewe Advisors LLC’s holdings in Bank of Montreal were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BMO. Canoe Financial LP grew its holdings in Bank of Montreal by 300,456.3% during the 4th quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock worth $10,439,190,000 after acquiring an additional 105,475,200 shares in the last quarter. Vanguard Group Inc. grew its stake in Bank of Montreal by 1.9% in the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock worth $2,795,402,000 after purchasing an additional 544,767 shares in the last quarter. TD Asset Management Inc increased its holdings in Bank of Montreal by 19.9% in the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock valued at $1,911,635,000 after buying an additional 3,187,998 shares during the last quarter. National Bank of Canada FI raised its stake in Bank of Montreal by 38.0% during the first quarter. National Bank of Canada FI now owns 14,069,787 shares of the bank’s stock valued at $1,318,457,000 after buying an additional 3,874,573 shares in the last quarter. Finally, FIL Ltd lifted its holdings in Bank of Montreal by 138.3% during the 4th quarter. FIL Ltd now owns 9,872,642 shares of the bank’s stock worth $976,870,000 after buying an additional 5,729,145 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.8 %

Shares of BMO stock opened at $83.62 on Friday. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The firm has a market capitalization of $60.98 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The stock has a fifty day moving average of $84.68 and a two-hundred day moving average of $89.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. As a group, research analysts expect that Bank of Montreal will post 7.91 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s payout ratio is currently 74.58%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday. Desjardins downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $123.00 to $112.00 in a report on Wednesday. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $137.00 to $124.00 in a report on Monday, June 3rd. Finally, StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $119.75.

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.