Addenda Capital Inc. Has $110.45 Million Stock Holdings in Bank Of Montreal $BMO

Addenda Capital Inc. trimmed its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 625,064 shares of the bank's stock after selling 49,004 shares during the period. Bank Of Montreal makes up 3.8% of Addenda Capital Inc.'s investment portfolio, making the stock its 3rd largest holding. Addenda Capital Inc. owned about 0.09% of Bank Of Montreal worth $110,449,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMO. TD Asset Management Inc grew its holdings in Bank Of Montreal by 1.5% in the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank's stock worth $2,519,180,000 after purchasing an additional 293,575 shares during the period. FIL Ltd raised its holdings in shares of Bank Of Montreal by 15.2% during the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank's stock valued at $1,226,622,000 after purchasing an additional 1,245,500 shares during the period. Norges Bank bought a new position in shares of Bank Of Montreal during the 4th quarter worth about $1,059,320,000. Canada Pension Plan Investment Board bought a new position in shares of Bank Of Montreal during the 2nd quarter worth about $1,281,220,000. Finally, Geode Capital Management LLC grew its stake in shares of Bank Of Montreal by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank's stock valued at $932,242,000 after buying an additional 442,812 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Trading Up 0.1%

Shares of BMO stock opened at $172.06 on Monday. The company has a 50 day moving average of $177.93 and a 200-day moving average of $159.51. Bank Of Montreal has a 12-month low of $118.66 and a 12-month high of $187.22. The firm has a market cap of $119.95 billion, a P/E ratio of 19.42, a PEG ratio of 1.02 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a yield of 4.0%. Bank Of Montreal's dividend payout ratio (DPR) is 54.29%.

Analyst Ratings Changes

Several research analysts have issued reports on BMO shares. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Bank Of Montreal in a report on Thursday. Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an "outperform" rating on the stock. Desjardins reiterated a "hold" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings downgraded shares of Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Finally, Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a research note on Wednesday. Five investment 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's stock. According to MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Hold" and a consensus target price of $163.00.

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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