Canada Pension Plan Investment Board reduced its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,207,553 shares of the bank's stock after selling 318,022 shares during the period. Canada Pension Plan Investment Board owned approximately 0.30% of Bank of Montreal worth $214,037,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after acquiring an additional 246 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Bank of Montreal during the fourth quarter valued at $39,000. Wilmington Savings Fund Society FSB purchased a new stake in Bank of Montreal in the third quarter valued at $45,000. Finally, First Horizon Advisors Inc. grew its position in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after purchasing an additional 358 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.
Bank of Montreal Trading Up 2.0 %
NYSE BMO traded up $1.82 on Tuesday, reaching $94.12. 110,354 shares of the company were exchanged, compared to its average volume of 643,276. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $106.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The business's fifty day moving average price is $96.65 and its 200 day moving average price is $96.30. The stock has a market capitalization of $68.15 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95.
Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 EPS. Analysts forecast that Bank of Montreal will post 7.71 earnings per share for the current year.
Bank of Montreal Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is presently 57.35%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BMO. Royal Bank of Canada lifted their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Cibc World Mkts cut Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. CIBC downgraded Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Friday, April 4th. Finally, StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $128.40.
Check Out Our Latest Report on Bank of Montreal
Bank of Montreal Profile
(
Free Report)
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.
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