Unigestion Holding SA Reduces Position in Bank of Montreal (NYSE:BMO)

Unigestion Holding SA trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 29.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 182,206 shares of the bank’s stock after selling 75,300 shares during the quarter. Unigestion Holding SA’s holdings in Bank of Montreal were worth $13,428,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Patten Group Inc. increased its position in shares of Bank of Montreal by 3.9% during the second quarter. Patten Group Inc. now owns 3,699 shares of the bank’s stock worth $279,000 after acquiring an additional 140 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Bank of Montreal by 38.5% during the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock worth $39,000 after acquiring an additional 144 shares during the last quarter. Curbstone Financial Management Corp increased its position in shares of Bank of Montreal by 0.5% during the second quarter. Curbstone Financial Management Corp now owns 27,850 shares of the bank’s stock worth $2,101,000 after acquiring an additional 150 shares during the last quarter. Private Trust Co. NA increased its position in shares of Bank of Montreal by 5.4% during the third quarter. Private Trust Co. NA now owns 2,910 shares of the bank’s stock worth $214,000 after acquiring an additional 150 shares during the last quarter. Finally, Cordasco Financial Network increased its position in shares of Bank of Montreal by 8.1% during the second quarter. Cordasco Financial Network now owns 2,259 shares of the bank’s stock worth $170,000 after acquiring an additional 170 shares during the last quarter. 41.17% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on BMO. Scotiabank reaffirmed a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, August 20th. Zacks Investment Research upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating and set a $86.00 price target for the company in a research note on Tuesday, October 29th. Desjardins reiterated a “hold” rating and issued a $105.00 price target on shares of Bank of Montreal in a research note on Tuesday. Credit Suisse Group upgraded Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a research note on Friday, September 6th. Finally, ValuEngine upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Bank of Montreal has an average rating of “Hold” and a consensus target price of $98.25.

NYSE:BMO traded down $0.17 during mid-day trading on Friday, reaching $76.08. The stock had a trading volume of 218,873 shares, compared to its average volume of 510,747. The company has a market capitalization of $48.57 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. Bank of Montreal has a 1-year low of $62.79 and a 1-year high of $79.35. The stock’s 50 day simple moving average is $73.73 and its two-hundred day simple moving average is $74.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $1.79 EPS for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.07). Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts anticipate that Bank of Montreal will post 7.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 1st will be paid a $0.781 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Thursday, October 31st. Bank of Montreal’s payout ratio is presently 44.78%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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