Cambridge Investment Research Advisors Inc. Cuts Stake in Bank Of Montreal (NYSE:BMO)

Cambridge Investment Research Advisors Inc. trimmed its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,344 shares of the bank’s stock after selling 511 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Bank Of Montreal were worth $988,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BMO. Vanguard Group Inc. raised its holdings in Bank Of Montreal by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank’s stock worth $2,960,491,000 after purchasing an additional 576,744 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Bank Of Montreal by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank’s stock worth $1,709,215,000 after buying an additional 486,984 shares during the period. Toronto Dominion Bank boosted its position in shares of Bank Of Montreal by 8.6% in the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank’s stock worth $1,244,284,000 after buying an additional 1,020,712 shares during the period. Mackenzie Financial Corp boosted its position in shares of Bank Of Montreal by 15.4% in the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank’s stock worth $1,184,636,000 after buying an additional 1,630,962 shares during the period. Finally, Norges Bank acquired a new stake in Bank Of Montreal during the fourth quarter valued at $1,014,633,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

BMO stock opened at $113.53 on Friday. The business’s 50-day moving average price is $104.78 and its two-hundred day moving average price is $99.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $81.77 billion, a PE ratio of 14.72, a P/E/G ratio of 1.24 and a beta of 1.07. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $113.32.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same period in the previous year, the company posted $2.59 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.16%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 57.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMO shares. Barclays cut Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. Scotiabank initiated coverage on Bank Of Montreal in a research note on Thursday, May 15th. They issued a “sector perform” rating on the stock. Cibc World Mkts lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, CIBC reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Bank Of Montreal presently has an average rating of “Hold” and an average target price of $129.50.

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.