Guardian Partners Inc. Sells 15,197 Shares of Bank Of Montreal $BMO

Key Points

• Guardian Partners reduced its Bank of Montreal stake by 5%, selling 15,197 shares and retaining 288,574 shares valued at approximately $48.4 million. BMO remains the fund’s fourth-largest holding and represents 4.3% of its portfolio.
• Bank of Montreal shares rose 1.7% to $170.38, while the bank’s latest quarterly results exceeded expectations with EPS of $2.84 and revenue of $7.10 billion, up 10.1% year over year.
• BMO declared a quarterly dividend of C$1.71, equivalent to C$6.84 annually and a 4.0% yield. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $244.00.

Guardian Partners Inc. trimmed its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 288,574 shares of the bank's stock after selling 15,197 shares during the period. Bank Of Montreal accounts for about 4.3% of Guardian Partners Inc.'s investment portfolio, making the stock its 4th largest position. Guardian Partners Inc.'s holdings in Bank Of Montreal were worth $48,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BMO. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Bank Of Montreal in the second quarter valued at about $28,000. Western Wealth Management LLC acquired a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $38,000. Highland Investment Advisors LLC purchased a new stake in Bank Of Montreal in the 2nd quarter valued at approximately $63,000. Toth Financial Advisory Corp purchased a new stake in Bank Of Montreal in the 3rd quarter valued at approximately $84,000. Finally, Ballast Advisors LLC acquired a new stake in Bank Of Montreal during the 1st quarter valued at $88,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 1.7%

BMO traded up $2.91 during trading on Wednesday, hitting $170.38. The company's stock had a trading volume of 131,904 shares, compared to its average volume of 782,281. Bank Of Montreal has a twelve month low of $119.84 and a twelve month high of $187.22. The stock has a market cap of $118.43 billion, a PE ratio of 19.20, a PEG ratio of 1.00 and a beta of 0.95. The firm's 50 day moving average price is $171.87 and its 200-day moving average price is $167.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.13. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $6.94 billion. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The business's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 earnings per share. On average, analysts expect that Bank Of Montreal will post 10.65 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a C$1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal's dividend payout ratio (DPR) is presently 54.18%.

Wall Street Analysts Forecast Growth

BMO has been the subject of several recent research reports. TD Securities reissued a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Tuesday, August 18th. Weiss Ratings cut Bank Of Montreal from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, October 14th. Scotiabank reissued an "outperform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Bank Of Montreal in a report on Thursday, August 27th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $244.00.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada's oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.

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