Barometer Capital Management Inc. Sells 6,050 Shares of Bank Of Montreal $BMO

Barometer Capital Management Inc. decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,522 shares of the bank’s stock after selling 6,050 shares during the quarter. Bank Of Montreal comprises 3.3% of Barometer Capital Management Inc.’s holdings, making the stock its 7th largest holding. Barometer Capital Management Inc.’s holdings in Bank Of Montreal were worth $12,963,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC bought a new stake in Bank Of Montreal during the 3rd quarter worth approximately $28,000. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal in the second quarter valued at approximately $28,000. Toth Financial Advisory Corp purchased a new position in shares of Bank Of Montreal during the third quarter valued at approximately $52,000. Smartleaf Asset Management LLC boosted its position in shares of Bank Of Montreal by 107.7% during the third quarter. Smartleaf Asset Management LLC now owns 407 shares of the bank’s stock valued at $53,000 after buying an additional 211 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Bank Of Montreal during the second quarter worth $61,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on BMO. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Zacks Research raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $142.13 on Thursday. The firm has a market cap of $100.38 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.99 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. The company’s 50 day moving average is $139.56 and its 200-day moving average is $131.03. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $149.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, topping the consensus estimate 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 business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the company earned $3.04 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 56.79%.

Bank Of Montreal 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.