Bank Of Montreal $BMO Holdings Decreased by NorthRock Partners LLC

NorthRock Partners LLC reduced its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,776 shares of the bank’s stock after selling 377 shares during the quarter. NorthRock Partners LLC’s holdings in Bank Of Montreal were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cary Street Partners Investment Advisory LLC raised its position in Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after acquiring an additional 190 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Bank Of Montreal in the first quarter worth about $34,000. Truvestments Capital LLC bought a new stake in Bank Of Montreal in the first quarter worth about $39,000. CX Institutional bought a new stake in Bank Of Montreal in the first quarter worth about $42,000. Finally, HM Payson & Co. bought a new stake in Bank Of Montreal in the first quarter worth about $42,000. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Price Performance

Shares of BMO opened at $125.60 on Monday. The business’s 50-day moving average is $122.43 and its 200-day moving average is $110.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $89.79 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.28 and a beta of 1.03. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. Equities research analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio is 58.63%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMO. Wall Street Zen cut shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. Cibc World Mkts raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.