Cumberland Partners Ltd Has $1.29 Million Position in Bank Of Montreal (NYSE:BMO)

Cumberland Partners Ltd cut its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,550 shares of the bank’s stock after selling 352 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank Of Montreal were worth $1,294,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cary Street Partners Financial LLC acquired a new position in shares of Bank Of Montreal during the 4th quarter worth approximately $380,000. Baskin Financial Services Inc. increased its holdings in shares of Bank Of Montreal by 134.2% during the 1st quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank’s stock worth $709,000 after acquiring an additional 4,256 shares during the last quarter. Code Waechter LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $282,000. Cetera Investment Advisers increased its holdings in shares of Bank Of Montreal by 185.1% during the 4th quarter. Cetera Investment Advisers now owns 55,745 shares of the bank’s stock worth $5,410,000 after acquiring an additional 36,195 shares during the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $606,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays lowered Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday, June 9th. CIBC restated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Scotiabank began coverage on Bank Of Montreal in a research note on Thursday, May 15th. They issued a “sector perform” rating for the company. Wall Street Zen downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Cibc World Mkts downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.50.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $110.85 on Friday. The stock has a fifty day moving average price of $110.06 and a 200-day moving average price of $102.11. The company has a market cap of $79.63 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $115.66.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. As a group, equities analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.11. Bank Of Montreal’s dividend payout ratio is currently 62.13%.

Bank Of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.