North Star Asset Management Inc. reduced its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,523 shares of the bank’s stock after selling 225 shares during the period. North Star Asset Management Inc.’s holdings in Bank of Montreal were worth $893,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Usca Ria LLC purchased a new stake in shares of Bank of Montreal in the third quarter worth approximately $30,000. Horan Capital Advisors LLC. bought a new position in shares of Bank of Montreal in the third quarter valued at approximately $33,000. Duncker Streett & Co. Inc. bought a new stake in Bank of Montreal during the fourth quarter worth $66,000. Allworth Financial LP bought a new stake in Bank of Montreal during the fourth quarter worth $101,000. Finally, Bartlett & Co. LLC bought a new stake in Bank of Montreal during the third quarter worth $98,000. 41.94% of the stock is owned by hedge funds and other institutional investors.
BMO has been the topic of several recent analyst reports. Zacks Investment Research upgraded Bank of Montreal from a “sell” rating to a “hold” rating and set a $86.00 price objective on the stock in a research note on Tuesday, February 4th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating and set a $109.00 target price for the company in a research note on Tuesday, December 3rd. Oppenheimer upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, December 4th. Citigroup downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and set a $108.00 target price for the company. in a report on Tuesday, December 17th. Finally, ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, January 18th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $99.25.
Shares of BMO stock traded up $0.12 during trading on Friday, hitting $76.85. The company’s stock had a trading volume of 12,951 shares, compared to its average volume of 552,760. The company has a market cap of $49.07 billion, a PE ratio of 11.77, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $77.77 and a 200-day moving average of $74.68. Bank of Montreal has a 52 week low of $66.42 and a 52 week high of $79.93.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.61. Bank of Montreal had a return on equity of 14.03% and a net margin of 14.86%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period last year, the business posted $2.32 earnings per share. Bank of Montreal’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that Bank of Montreal will post 7.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.7965 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.78. This represents a $3.19 annualized dividend and a dividend yield of 4.15%. Bank of Montreal’s dividend payout ratio (DPR) is currently 45.07%.
Bank of Montreal 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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