Addenda Capital Inc. cut its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 54.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,720 shares of the bank’s stock after selling 10,390 shares during the period. Addenda Capital Inc.’s holdings in Bank of Montreal were worth $700,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Moors & Cabot Inc. boosted its position in Bank of Montreal by 7.1% during the 2nd quarter. Moors & Cabot Inc. now owns 3,065 shares of the bank’s stock worth $225,000 after buying an additional 202 shares during the period. Voya Investment Management LLC boosted its position in Bank of Montreal by 8.5% during the 2nd quarter. Voya Investment Management LLC now owns 3,443 shares of the bank’s stock worth $252,000 after buying an additional 270 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Bank of Montreal by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 27,828 shares of the bank’s stock worth $2,044,000 after buying an additional 287 shares during the period. Advisor Group Inc. boosted its position in Bank of Montreal by 4.5% during the 2nd quarter. Advisor Group Inc. now owns 9,586 shares of the bank’s stock worth $704,000 after buying an additional 413 shares during the period. Finally, Suntrust Banks Inc. boosted its position in Bank of Montreal by 3.2% during the 2nd quarter. Suntrust Banks Inc. now owns 19,338 shares of the bank’s stock worth $1,419,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 42.81% of the company’s stock.
BMO has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Scotiabank reiterated a “buy” rating and set a $112.00 target price on shares of Bank of Montreal in a research report on Wednesday, November 22nd. Macquarie started coverage on shares of Bank of Montreal in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price target on the stock. Finally, Canaccord Genuity restated a “hold” rating and issued a $105.00 price target on shares of Bank of Montreal in a research report on Tuesday, December 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.20.
Shares of Bank of Montreal (NYSE:BMO) traded down $1.79 during midday trading on Friday, hitting $80.66. 437,960 shares of the stock were exchanged, compared to its average volume of 363,459. The firm has a market cap of $52,252.84, a P/E ratio of 13.33, a P/E/G ratio of 1.70 and a beta of 1.04. Bank of Montreal has a 1 year low of $66.75 and a 1 year high of $84.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, December 5th. The bank reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.03). The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.25 billion. Bank of Montreal had a return on equity of 14.11% and a net margin of 19.00%. sell-side analysts expect that Bank of Montreal will post 6.84 earnings per share for the current year.
The business also recently disclosed 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 is Wednesday, January 31st. This represents a $2.93 annualized dividend and a dividend yield of 3.64%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s payout ratio is currently 48.43%.
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Bank of Montreal 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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