Value Partners Investments Inc. reduced its position in shares of Bank Of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,965 shares of the bank’s stock after selling 42,677 shares during the period. Bank Of Montreal comprises approximately 2.2% of Value Partners Investments Inc.’s holdings, making the stock its 21st largest holding. Value Partners Investments Inc.’s holdings in Bank Of Montreal were worth $33,036,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in Bank Of Montreal during the second quarter valued at $920,002,000. Tacita Capital Inc bought a new position in shares of Bank Of Montreal in the 2nd quarter worth about $1,518,000. Andra AP fonden acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at about $3,979,000. Deutsche Bank AG acquired a new stake in Bank Of Montreal during the second quarter worth about $235,791,000. Finally, Public Employees Retirement System of Ohio bought a new position in Bank Of Montreal in the second quarter worth about $10,555,000. 45.82% of the stock is currently owned by institutional investors.
Bank Of Montreal Price Performance
Shares of NYSE BMO traded down $0.95 during mid-day trading on Monday, reaching $166.12. 248,338 shares of the company traded hands, compared to its average volume of 786,354. Bank Of Montreal has a fifty-two week low of $119.84 and a fifty-two week high of $187.22. The firm has a market cap of $115.46 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The stock has a fifty day simple moving average of $172.15 and a 200-day simple moving average of $166.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 earnings per share. Equities research analysts anticipate that Bank Of Montreal will post 10.65 EPS for the current fiscal year.
Bank Of Montreal Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a dividend of C$1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal’s payout ratio is presently 54.29%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on BMO. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $244.00.
Get Our Latest Stock Analysis on BMO
Bank Of Montreal Company Profile
Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.
BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.
Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.
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