BNP Paribas Financial Markets Sells 3,618 Shares of Bank of Montreal (NYSE:BMO)

BNP Paribas Financial Markets lowered its holdings in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 89.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 439 shares of the bank's stock after selling 3,618 shares during the period. BNP Paribas Financial Markets' holdings in Bank of Montreal were worth $43,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Bank of Montreal in the 4th quarter valued at $1,014,633,000. The Manufacturers Life Insurance Company raised its holdings in Bank of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after purchasing an additional 2,044,862 shares in the last quarter. Federated Hermes Inc. raised its holdings in Bank of Montreal by 1,527.7% in the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock worth $112,626,000 after purchasing an additional 1,089,199 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bank of Montreal by 29.4% in the 4th quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank's stock worth $422,450,000 after purchasing an additional 975,777 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in Bank of Montreal by 11.9% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,616,614 shares of the bank's stock worth $642,016,000 after purchasing an additional 704,197 shares in the last quarter. Institutional investors own 45.82% of the company's stock.

Bank of Montreal Stock Performance

Shares of NYSE BMO traded up $0.08 during trading on Thursday, reaching $108.27. 385,999 shares of the company traded hands, compared to its average volume of 830,434. The firm has a 50 day simple moving average of $97.86 and a 200-day simple moving average of $98.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $78.18 billion, a PE ratio of 15.51, a P/E/G ratio of 1.43 and a beta of 1.08. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $109.33.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. Equities research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio is 58.75%.

Wall Street Analysts Forecast Growth

BMO has been the subject of several research reports. Scotiabank initiated coverage on shares of Bank of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Cibc World Mkts lowered shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. CIBC reiterated a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Finally, Royal Bank of Canada increased their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Bank of Montreal currently has a consensus rating of "Hold" and a consensus target price of $129.50.

About Bank of Montreal

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.