Montrusco Bolton Investments Inc. Reduces Stock Holdings in Bank Of Montreal $BMO

Montrusco Bolton Investments Inc. reduced its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 20.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 193,890 shares of the bank’s stock after selling 48,423 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Bank Of Montreal were worth $21,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Apollon Wealth Management LLC purchased a new stake in shares of Bank Of Montreal during the 2nd quarter valued at about $222,000. PDS Planning Inc raised its position in shares of Bank Of Montreal by 6.9% in the 2nd quarter. PDS Planning Inc now owns 4,335 shares of the bank’s stock valued at $480,000 after purchasing an additional 279 shares in the last quarter. Blair William & Co. IL raised its position in shares of Bank Of Montreal by 94.0% in the 2nd quarter. Blair William & Co. IL now owns 9,475 shares of the bank’s stock valued at $1,048,000 after purchasing an additional 4,591 shares in the last quarter. MSH Capital Advisors LLC purchased a new position in shares of Bank Of Montreal during the 2nd quarter valued at approximately $213,000. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Bank Of Montreal by 0.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 68,791 shares of the bank’s stock valued at $7,629,000 after buying an additional 414 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BMO shares. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Trading Down 0.6%

NYSE:BMO opened at $125.60 on Monday. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.36. The firm has a market capitalization of $89.79 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.28 and a beta of 1.03. 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 business has a 50 day simple moving average of $122.43 and a 200 day simple moving average of $110.21.

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

Bank Of Montreal Increases Dividend

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

Bank Of Montreal Company 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.