Farther Finance Advisors LLC Lowers Stock Holdings in Bank Of Montreal $BMO

Farther Finance Advisors LLC decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,665 shares of the bank’s stock after selling 179 shares during the period. Farther Finance Advisors LLC’s holdings in Bank Of Montreal were worth $295,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after buying an additional 190 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the first quarter worth about $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal in the first quarter worth about $39,000. CX Institutional purchased a new position in shares of Bank Of Montreal in the first quarter worth about $42,000. Finally, HM Payson & Co. purchased a new position in shares of Bank Of Montreal in the first quarter worth about $42,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays cut Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 9th. CIBC raised Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Royal Bank Of Canada raised their target price on Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Finally, Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $168.00.

Bank Of Montreal Stock Performance

Shares of BMO opened at $129.85 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $119.63 and its 200-day moving average price is $108.26. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $131.36. The stock has a market cap of $92.82 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.33 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $8.84 billion. During the same period in the previous year, the firm posted $2.64 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is presently 58.63%.

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.