45,418 Shares of Bank Of Montreal $BMO Bought by NBT Bank N.A.

Key Points

• NBT Bank N.A. purchased 45,418 shares of Bank of Montreal in the third quarter, valued at approximately $7.6 million. Institutional investors and hedge funds collectively own 45.82% of the stock.
• Bank of Montreal reported quarterly earnings of $2.84 per share, exceeding the $2.71 consensus estimate, while revenue rose 10.1% year over year to $7.10 billion.
• The bank declared a quarterly dividend of C$1.71, equivalent to an annualized C$6.84 payout and a 4.0% yield. Analysts’ consensus rating is “Hold,” with a target price of $244.00.

NBT Bank N.A. purchased a new stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 45,418 shares of the bank's stock, valued at approximately $7,596,000.

A number of other institutional investors have also made changes to their positions in the stock. Carter Financial Group INC. lifted its holdings in shares of Bank Of Montreal by 5.8% in the 3rd quarter. Carter Financial Group INC. now owns 1,201 shares of the bank's stock worth $201,000 after acquiring an additional 66 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Bank Of Montreal during the 3rd quarter worth approximately $206,000. 55 North Private Wealth LLC increased its holdings in Bank Of Montreal by 6.4% in the 3rd quarter. 55 North Private Wealth LLC now owns 1,629 shares of the bank's stock valued at $272,000 after purchasing an additional 98 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in Bank Of Montreal by 0.7% in the 3rd quarter. Gold Investment Management Ltd. now owns 23,422 shares of the bank's stock valued at $3,916,000 after purchasing an additional 162 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Bank Of Montreal by 0.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 106,311 shares of the bank's stock valued at $17,778,000 after purchasing an additional 492 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Trading Up 0.0%

NYSE BMO opened at $170.46 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $118.48 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.02 and a beta of 0.95. The firm has a 50 day simple moving average of $171.33 and a 200-day simple moving average of $167.64. Bank Of Montreal has a one year low of $119.84 and a one year high of $187.22.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.13. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.23 EPS. Equities research analysts anticipate that Bank Of Montreal will post 10.65 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a C$1.71 dividend. The ex-dividend date is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. Bank Of Montreal's payout ratio is 54.29%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings lowered Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Barclays reiterated an "underweight" rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, Canadian Imperial Bank of Commerce lowered Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bank Of Montreal presently has a consensus rating of "Hold" and a consensus target price of $244.00.

About Bank Of Montreal

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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