Beverly Hills Private Wealth LLC Sells 241 Shares of Bank Of Montreal $BMO

Beverly Hills Private Wealth LLC lessened its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,636 shares of the bank’s stock after selling 241 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Bank Of Montreal were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC raised its stake in Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Bayforest Capital Ltd bought a new stake in Bank Of Montreal in the 1st quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in Bank Of Montreal in the 1st quarter worth approximately $39,000. Harbor Asset Planning Inc. bought a new stake in Bank Of Montreal in the 2nd quarter worth approximately $39,000. Finally, HM Payson & Co. bought a new stake in Bank Of Montreal in the 1st quarter worth approximately $42,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

BMO opened at $125.74 on Tuesday. The business has a fifty day moving average of $124.10 and a 200 day moving average of $111.52. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $131.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $89.89 billion, a P/E ratio of 15.39, a PEG ratio of 1.27 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted 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 company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. During the same quarter in the previous year, the business earned $2.64 EPS. Bank Of Montreal’s revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed 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 represents a $6.52 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is presently 58.63%.

Analysts Set New Price Targets

BMO has been the topic of a number of research reports. Cowen reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.