Massachusetts Financial Services Co. MA Cuts Stock Holdings in Bank Of Montreal $BMO

Massachusetts Financial Services Co. MA decreased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,521,909 shares of the bank’s stock after selling 3,508 shares during the period. Massachusetts Financial Services Co. MA owned about 0.22% of Bank Of Montreal worth $197,529,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Citigroup Inc. boosted its position in shares of Bank Of Montreal by 36.6% during the third quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock valued at $65,479,000 after buying an additional 134,699 shares during the last quarter. Addenda Capital Inc. boosted its position in shares of Bank Of Montreal by 9.5% during the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after buying an additional 63,432 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Bank Of Montreal by 17.3% during the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after buying an additional 1,070,546 shares during the last quarter. JCIC Asset Management Inc. purchased a new position in shares of Bank Of Montreal during the third quarter valued at approximately $7,939,000. Finally, Vanguard Group Inc. boosted its position in shares of Bank Of Montreal by 0.5% during the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock valued at $4,214,676,000 after buying an additional 149,944 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 0.0%

Shares of NYSE BMO opened at $144.29 on Monday. Bank Of Montreal has a one year low of $89.55 and a one year high of $149.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The business’s fifty day moving average price is $140.47 and its 200-day moving average price is $132.93. The stock has a market capitalization of $101.66 billion, a PE ratio of 16.76, a P/E/G ratio of 0.93 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The firm had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio is currently 56.56%.

Analysts Set New Price Targets

BMO has been the topic of several analyst reports. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Barclays cut Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. Finally, Raymond James Financial raised Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.