Janney Montgomery Scott LLC raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,680 shares of the bank’s stock after buying an additional 1,574 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Bank of Montreal were worth $1,566,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Bank of Montreal by 1.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. Motco acquired a new stake in shares of Bank of Montreal in the 3rd quarter valued at $108,000. Advisory Services Network LLC boosted its stake in shares of Bank of Montreal by 409.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after purchasing an additional 1,260 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Bank of Montreal by 11.5% in the 2nd quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after purchasing an additional 166 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Bank of Montreal by 6,400.0% in the 3rd quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,984 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Montreal (NYSE:BMO) traded up $0.04 during trading on Thursday, reaching $81.74. 301,091 shares of the company’s stock were exchanged, compared to its average volume of 355,961. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $53,000.00, a P/E ratio of 12.95, a PEG ratio of 2.14 and a beta of 1.06. Bank of Montreal has a 52 week low of $66.75 and a 52 week high of $82.68.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be paid a $0.733 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.72. This represents a $2.93 dividend on an annualized basis and a dividend yield of 3.59%. Bank of Montreal’s dividend payout ratio is 44.53%.
Several brokerages recently issued reports on BMO. Canaccord Genuity reiterated a “hold” rating and set a $105.00 price target on shares of Bank of Montreal in a research report on Tuesday, December 5th. Scotiabank reiterated a “buy” rating and set a $112.00 price target on shares of Bank of Montreal in a research report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Monday, November 20th. Finally, Macquarie began coverage on shares of Bank of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $98.20.
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Bank of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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