Assetmark Inc. Sells 3,615 Shares of Bank Of Montreal $BMO

Assetmark Inc. cut its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 20.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,053 shares of the bank’s stock after selling 3,615 shares during the period. Assetmark Inc.’s holdings in Bank Of Montreal were worth $1,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. Canerector Inc. increased its position in Bank Of Montreal by 18,035.0% during the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after acquiring an additional 22,543,750 shares during the period. TD Asset Management Inc raised its position in Bank Of Montreal by 10.3% in the third quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after purchasing an additional 1,789,188 shares in the last quarter. UBS Group AG lifted its position in shares of Bank Of Montreal by 155.3% during the 3rd quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after buying an additional 1,294,169 shares during the period. CIBC Asset Management Inc lifted its holdings 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 acquiring an additional 1,070,546 shares during the period. Finally, Invesco Ltd. boosted its position in Bank Of Montreal by 51.3% in the third quarter. Invesco Ltd. now owns 1,606,369 shares of the bank’s stock valued at $209,230,000 after buying an additional 544,999 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 1.0%

Bank Of Montreal stock opened at $153.47 on Tuesday. The stock has a market cap of $107.56 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.98 and a beta of 0.92. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $91.74 and a twelve month high of $153.92. The company’s 50-day moving average price is $141.51 and its two-hundred day moving average price is $133.76.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $7.21 billion for 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 revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. As a group, analysts expect that Bank Of Montreal will post 10.2 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 issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s payout ratio is 56.56%.

Analysts Set New Price Targets

BMO has been the topic of several research analyst reports. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a report on Friday, February 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.00.

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.