Massachusetts Financial Services Co. MA Has $198.69 Million Stock Holdings in Bank Of Montreal $BMO

Massachusetts Financial Services Co. MA decreased its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.6% in the third quarter, HoldingsChannel reports. The firm owned 1,525,417 shares of the bank’s stock after selling 57,165 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Bank Of Montreal were worth $198,686,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in Bank Of Montreal during the third quarter valued at about $28,000. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal in the second quarter worth approximately $28,000. Princeton Global Asset Management LLC raised its holdings in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of Bank Of Montreal in the 2nd quarter valued at approximately $39,000. Finally, Vision Financial Markets LLC boosted its stake in Bank Of Montreal by 100.0% in the 2nd quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock worth $44,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They set a “market perform” rating on the stock. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. TD Securities restated a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. Finally, Natl Bk Canada downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 1.1%

Shares of Bank Of Montreal stock opened at $136.35 on Tuesday. The firm has a market cap of $96.47 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.13 and a beta of 0.94. The stock has a 50-day simple moving average of $128.71 and a 200-day simple moving average of $123.72. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $137.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.20. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a $1.67 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio is currently 57.35%.

Bank Of Montreal Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.