Bank Of Montreal $BMO Shares Sold by Montrusco Bolton Investments Inc.

by · The Markets Daily

Montrusco Bolton Investments Inc. lessened its holdings in shares of Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 20.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 193,890 shares of the bank’s stock after selling 48,423 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Bank Of Montreal were worth $21,444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming boosted its position in Bank Of Montreal by 237.4% during the 1st quarter. State of Wyoming now owns 14,254 shares of the bank’s stock worth $1,361,000 after acquiring an additional 10,029 shares during the period. Canada Pension Plan Investment Board boosted its position in Bank Of Montreal by 66.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after acquiring an additional 1,469,084 shares during the period. Baskin Financial Services Inc. boosted its position in Bank Of Montreal by 134.2% during the 1st quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank’s stock worth $709,000 after acquiring an additional 4,256 shares during the period. Code Waechter LLC acquired a new position in Bank Of Montreal during the 1st quarter worth $282,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bank Of Montreal in the first quarter valued at $1,886,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BMO. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $168.00 to $163.00 in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a report on Wednesday, October 8th. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. National Bankshares restated an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. Finally, Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

View Our Latest Stock Analysis on BMO

Bank Of Montreal Trading Down 0.6%

Shares of NYSE BMO opened at $125.60 on Monday. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $131.36. The company has a market cap of $89.79 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.28 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $122.43 and a 200-day simple moving average of $110.21.

Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.21. The firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 EPS. Sell-side analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.2%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is currently 58.63%.

About Bank Of Montreal

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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