Bank Of Montreal $BMO Stake Reduced by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC trimmed its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,447 shares of the bank’s stock after selling 4,956 shares during the quarter. Bank Of Montreal accounts for about 1.6% of Cardinal Point Capital Management ULC’s portfolio, making the stock its 16th biggest holding. Cardinal Point Capital Management ULC’s holdings in Bank Of Montreal were worth $23,116,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in Bank Of Montreal during the second quarter valued at approximately $28,000. True Wealth Design LLC bought a new position in shares of Bank Of Montreal in the third quarter valued at $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at $39,000. Princeton Global Asset Management LLC boosted its stake in shares of Bank Of Montreal by 40.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Vision Financial Markets LLC grew its holdings in shares of Bank Of Montreal by 100.0% in the 2nd quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock worth $44,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMO. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday. Natl Bk Canada lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Finally, TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Price Performance

NYSE BMO opened at $141.56 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $100.16 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.17 and a beta of 0.94. The company has a 50 day simple moving average of $132.92 and a 200-day simple moving average of $126.18. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $142.73.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.20. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 4.7%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio is presently 59.56%.

About Bank Of Montreal

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.