Bank Of Montreal $BMO Shares Sold by Guardian Capital LP

Key Points

• Guardian Capital LP reduced its stake in Bank Of Montreal by 17.6% in Q3, selling 365,965 shares and now holding 1,717,242 shares (about 0.24% of BMO), with BMO representing roughly 7.2% of Guardian's portfolio and valued at $223.8M.
• BMO beat quarterly estimates (EPS $2.51 vs. $2.35; revenue $7.21B vs. $6.73B, +6% y/y) and announced a quarterly dividend of $1.67 ($6.68 annualized, 4.7% yield) payable May 26 (ex-dividend Apr 29).

Guardian Capital LP reduced its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 17.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,717,242 shares of the bank's stock after selling 365,965 shares during the quarter. Bank Of Montreal accounts for about 7.2% of Guardian Capital LP's holdings, making the stock its 2nd biggest holding. Guardian Capital LP owned approximately 0.24% of Bank Of Montreal worth $223,819,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC bought a new position in Bank Of Montreal in the third quarter valued at about $28,000. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal in the second quarter worth about $28,000. Toth Financial Advisory Corp bought a new position in shares of Bank Of Montreal in the third quarter worth about $52,000. Smartleaf Asset Management LLC boosted its stake in shares of Bank Of Montreal by 107.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 407 shares of the bank's stock valued at $53,000 after purchasing an additional 211 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Bank Of Montreal in the 2nd quarter valued at approximately $61,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research report on Sunday, February 8th. Scotiabank reiterated a "sector perform" rating on shares of Bank Of Montreal in a report on Friday, January 9th. National Bank Financial reiterated a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, TD Securities raised Bank Of Montreal from a "hold" rating to a "buy" rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.00.

Bank Of Montreal Stock Down 1.3%

Shares of NYSE BMO opened at $142.17 on Friday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $149.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $100.41 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The company has a 50 day simple moving average of $138.85 and a 200 day simple moving average of $130.30.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.16. The firm had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 earnings per share. On average, research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal's dividend payout ratio (DPR) is currently 56.56%.

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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