Ameriprise Financial Inc. Has $5.04 Million Position in Bank of Montreal (NYSE:BMO)

Ameriprise Financial Inc. cut its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,920 shares of the bank's stock after selling 8,794 shares during the period. Ameriprise Financial Inc.'s holdings in Bank of Montreal were worth $5,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Bank of Montreal by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank's stock valued at $300,137,000 after purchasing an additional 144,252 shares during the period. Merit Financial Group LLC lifted its stake in Bank of Montreal by 28.2% in the fourth quarter. Merit Financial Group LLC now owns 4,020 shares of the bank's stock valued at $390,000 after buying an additional 884 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $285,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock worth $66,000 after acquiring an additional 219 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Bank of Montreal by 10.9% during the fourth quarter. Ballentine Partners LLC now owns 3,242 shares of the bank's stock worth $315,000 after acquiring an additional 319 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of BMO traded up $0.70 during mid-day trading on Tuesday, reaching $104.64. The company's stock had a trading volume of 723,273 shares, compared to its average volume of 848,913. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The business has a 50-day simple moving average of $96.48 and a two-hundred day simple moving average of $97.53. The stock has a market cap of $75.76 billion, a P/E ratio of 14.99, a PEG ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the prior year, the business earned $2.56 EPS. The firm's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.24%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMO. Wall Street Zen raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Scotiabank assumed coverage on Bank of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank of Canada increased their price target on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Cibc World Mkts lowered Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $128.40.

Bank of Montreal Company Profile

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.