Bank Of Montreal $BMO Stock Holdings Lessened by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,715 shares of the bank’s stock after selling 6,890 shares during the period. DAVENPORT & Co LLC’s holdings in Bank Of Montreal were worth $3,208,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. TABR Capital Management LLC bought a new stake in Bank Of Montreal in the 4th quarter valued at about $2,448,000. Park Avenue Securities LLC increased its stake in shares of Bank Of Montreal by 11.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,873 shares of the bank’s stock valued at $633,000 after purchasing an additional 486 shares during the period. Allworth Financial LP boosted its position in shares of Bank Of Montreal by 4.6% during the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock worth $276,000 after buying an additional 94 shares during the period. Swiss Life Asset Management Ltd grew its holdings in Bank Of Montreal by 17.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 99,874 shares of the bank’s stock worth $13,032,000 after buying an additional 14,494 shares in the last quarter. Finally, Trust Investment Advisors acquired a new stake in Bank Of Montreal in the 3rd quarter valued at approximately $204,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BMO has been the subject of a number of analyst reports. Zacks Research upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Raymond James Financial upgraded shares of Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday, February 13th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. 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. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $131.79 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $140.36 and a 200-day moving average of $132.21. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $149.01. The firm has a market cap of $93.07 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate of $2.35 by $0.16. The business had revenue of $7.21 billion during the quarter, compared to analyst estimates of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 earnings per share. Analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio is currently 56.56%.

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.