JPMorgan Chase & Co. Sells 62,740 Shares of Bank Of Montreal $BMO

JPMorgan Chase & Co. lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,034,186 shares of the bank’s stock after selling 62,740 shares during the period. JPMorgan Chase & Co. owned approximately 0.57% of Bank Of Montreal worth $525,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BMO. PNC Financial Services Group Inc. boosted its holdings in Bank Of Montreal by 6.0% in the third quarter. PNC Financial Services Group Inc. now owns 29,178 shares of the bank’s stock worth $3,800,000 after acquiring an additional 1,646 shares in the last quarter. Ameritas Advisory Services LLC raised its position in shares of Bank Of Montreal by 20.6% in the 3rd quarter. Ameritas Advisory Services LLC now owns 2,299 shares of the bank’s stock valued at $299,000 after purchasing an additional 393 shares during the last quarter. Tacita Capital Inc boosted its stake in Bank Of Montreal by 45.8% in the 3rd quarter. Tacita Capital Inc now owns 8,367 shares of the bank’s stock worth $1,091,000 after purchasing an additional 2,630 shares in the last quarter. Assetmark Inc. grew its position in Bank Of Montreal by 5.7% during the 3rd quarter. Assetmark Inc. now owns 17,668 shares of the bank’s stock worth $2,301,000 after purchasing an additional 946 shares during the last quarter. Finally, Atria Investments Inc increased its position in shares of Bank Of Montreal by 3.9% in the 3rd quarter. Atria Investments Inc now owns 17,223 shares of the bank’s stock valued at $2,243,000 after acquiring an additional 641 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Up 0.8%

BMO opened at $142.57 on Thursday. 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 has a twelve month low of $85.40 and a twelve month high of $146.35. The company has a market cap of $100.69 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.14 and a beta of 0.94. The company has a 50-day moving average price of $135.43 and a 200 day moving average price of $127.76.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.20. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be issued a $1.67 dividend. The ex-dividend date is Friday, January 30th. This represents a $6.68 annualized dividend and a dividend yield of 4.7%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) is currently 59.68%.

Analyst Ratings Changes

Several analysts have recently commented on BMO shares. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. National Bank Financial lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Finally, Raymond James Financial raised shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

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.