Guardian Partners Inc. Sells 27,758 Shares of Bank Of Montreal $BMO

Key Points

• Guardian Partners Inc. reduced its stake in Bank Of Montreal by 7.3%, holding 349,913 shares valued at approximately $31.78 million.
• Bank Of Montreal recently increased its quarterly dividend from $1.18 to $1.63, resulting in an annual yield of 5.2%.
• Analysts maintain a "Moderate Buy" rating for Bank Of Montreal, with an average target price of $168.00, following positive earnings report that exceeded consensus estimates.

Guardian Partners Inc. cut its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,913 shares of the bank's stock after selling 27,758 shares during the period. Bank Of Montreal accounts for 3.2% of Guardian Partners Inc.'s holdings, making the stock its 4th largest position. Guardian Partners Inc.'s holdings in Bank Of Montreal were worth $31,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its position in Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal during the first quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Bank Of Montreal during the first quarter worth approximately $39,000. CX Institutional acquired a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. Finally, HM Payson & Co. acquired a new stake in Bank Of Montreal during the first quarter worth approximately $42,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on BMO. UBS Group restated a "neutral" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. CIBC raised shares of Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Cowen reaffirmed a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Cibc World Mkts raised shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.00.

Bank Of Montreal Price Performance

NYSE:BMO traded down $0.41 during mid-day trading on Friday, reaching $126.36. The stock had a trading volume of 320,137 shares, compared to its average volume of 663,061. The stock has a 50-day simple moving average of $116.10 and a two-hundred day simple moving average of $105.84. The stock has a market capitalization of $90.52 billion, a PE ratio of 15.47, a P/E/G ratio of 1.30 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a 12 month low of $85.20 and a 12 month high of $127.37.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $2.64 earnings per share. On average, equities analysts anticipate 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 Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 5.2%. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's payout ratio is 57.53%.

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.