UMB Bank n.a. Lowers Stake in Bank of Montreal (NYSE:BMO)

UMB Bank n.a. decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 13.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 16,633 shares of the bank’s stock after selling 2,539 shares during the period. UMB Bank n.a.’s holdings in Bank of Montreal were worth $1,395,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. purchased a new position in shares of Bank of Montreal during the 4th quarter worth $33,000. Cullen Frost Bankers Inc. lifted its position 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 buying an additional 405 shares during the period. Headlands Technologies LLC acquired a new stake in Bank of Montreal in the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC grew its holdings in Bank of Montreal by 39.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after buying an additional 130 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of Bank of Montreal by 71.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 554 shares of the bank’s stock valued at $55,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMO shares. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their target price for the company from $134.00 to $117.00 in a report on Wednesday. Finally, UBS Group began coverage on Bank of Montreal in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Stock Up 0.8 %

Shares of Bank of Montreal stock opened at $83.62 on Friday. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The stock has a market cap of $60.98 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $84.68 and a 200 day moving average price of $89.70.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts forecast that Bank of Montreal will post 7.91 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

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

Bank of Montreal Company 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.