Newport Trust Company LLC lowered its stake in Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,315,207 shares of the bank’s stock after selling 6,708 shares during the period. Newport Trust Company LLC’s holdings in Bank Of Montreal were worth $170,701,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in BMO. Code Waechter LLC lifted its position in shares of Bank Of Montreal by 1.7% during the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after purchasing an additional 75 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Bank Of Montreal by 33.2% during the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Naples Global Advisors LLC lifted its position in shares of Bank Of Montreal by 0.5% during the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP lifted its position in shares of Bank Of Montreal by 4.6% during the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock worth $276,000 after purchasing an additional 94 shares during the last quarter. Finally, Choreo LLC lifted its position in shares of Bank Of Montreal by 3.6% during the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank’s stock worth $356,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Finally, National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.00.
Bank Of Montreal Trading Up 1.3%
BMO stock opened at $159.83 on Friday. Bank Of Montreal has a 1-year low of $102.70 and a 1-year high of $160.29. The firm has a market cap of $112.02 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.89 and a beta of 0.94. The business’s 50 day moving average is $145.34 and its 200-day moving average is $137.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company had revenue of $7.21 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Bank Of Montreal will post 11.56 earnings per share for the current fiscal year.
Bank Of Montreal Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio is currently 55.75%.
Bank Of Montreal Company 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.
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