Forum Financial Management LP Cuts Stock Holdings in Bank Of Montreal (NYSE:BMO)

Forum Financial Management LP cut its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,758 shares of the bank's stock after selling 2,200 shares during the quarter. Forum Financial Management LP's holdings in Bank Of Montreal were worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC bought a new position in shares of Bank Of Montreal during the 4th quarter valued at $39,000. CX Institutional bought a new stake in shares of Bank Of Montreal in the 1st quarter worth about $42,000. HM Payson & Co. purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth $42,000. Wayfinding Financial LLC purchased a new stake in shares of Bank Of Montreal during the 1st quarter worth $44,000. Finally, TruNorth Capital Management LLC raised its stake in Bank Of Montreal by 405.0% in the first quarter. TruNorth Capital Management LLC now owns 505 shares of the bank's stock valued at $48,000 after buying an additional 405 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Cibc World Mkts cut shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Scotiabank assumed coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Trading Down 0.1%

Bank Of Montreal stock traded down $0.07 during trading hours on Friday, reaching $114.29. 442,677 shares of the company's stock traded hands, compared to its average volume of 796,692. The firm's 50 day moving average is $108.00 and its 200-day moving average is $101.01. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $114.76.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The company had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the business posted $2.59 EPS. The business's revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.13%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is currently 57.33%.

Bank Of Montreal 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.