Bank Of Montreal $BMO Position Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,525,417 shares of the bank’s stock after selling 57,165 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.21% of Bank Of Montreal worth $198,686,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BMO. True Wealth Design LLC bought a new stake in Bank Of Montreal in the 3rd quarter valued at about $28,000. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Princeton Global Asset Management LLC raised its holdings in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Bank Of Montreal during the second quarter worth approximately $39,000. Finally, Vision Financial Markets LLC boosted its position in shares of Bank Of Montreal by 100.0% during the second quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock worth $44,000 after buying an additional 200 shares during the period. Institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank Of Canada downgraded Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Finally, TD Securities restated a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Bank Of Montreal has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Trading Up 1.1%

Shares of BMO stock opened at $136.35 on Tuesday. The stock has a 50-day simple moving average of $128.71 and a 200 day simple moving average of $123.72. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $137.16. The stock has a market capitalization of $96.47 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.13 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business earned $1.90 earnings per share. Bank Of Montreal’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a dividend of $1.67 per share. The ex-dividend date is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a yield of 4.9%. Bank Of Montreal’s payout ratio is 57.35%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.