Raymond James Financial Services Advisors Inc. lowered its holdings in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,038 shares of the bank’s stock after selling 347 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Bank of Montreal were worth $1,539,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of BMO. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal during the first quarter valued at approximately $36,000. Stonebridge Capital Advisors LLC raised its holdings in Bank of Montreal by 339.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 439 shares of the bank’s stock worth $40,000 after purchasing an additional 339 shares in the last quarter. Compass Wealth Management LLC bought a new stake in Bank of Montreal during the fourth quarter worth approximately $54,000. Ridgewood Investments LLC bought a new stake in Bank of Montreal during the first quarter worth approximately $78,000. Finally, Clearbridge Investments LLC acquired a new position in Bank of Montreal in the first quarter worth approximately $11,685,000. Institutional investors own 43.89% of the company’s stock.
Analyst Upgrades and Downgrades
BMO has been the topic of several recent research reports. Barclays lifted their price target on shares of Bank of Montreal from $123.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, August 21st. StockNews.com initiated coverage on shares of Bank of Montreal in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and an average price target of $139.25.
Bank of Montreal Trading Down 0.7 %
Bank of Montreal stock opened at $75.95 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $54.75 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14. Bank of Montreal has a 1 year low of $75.58 and a 1 year high of $102.79. The firm’s 50 day moving average price is $83.35 and its two-hundred day moving average price is $87.09.
Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 29th. The bank reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.20). Bank of Montreal had a return on equity of 12.70% and a net margin of 11.19%. The firm had revenue of $5.94 billion for the quarter. On average, research analysts predict that Bank of Montreal will post 8.71 EPS for the current fiscal year.
Bank of Montreal Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Monday, October 30th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 5.85%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.09. The ex-dividend date of this dividend is Friday, October 27th. Bank of Montreal’s payout ratio is presently 57.35%.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
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