Montrusco Bolton Investments Inc. Cuts Position in Bank Of Montreal $BMO

Key Points

• Montrusco Bolton Investments Inc. reduced its stake in Bank of Montreal by 8.2%, selling 18,698 shares to hold 208,443 shares valued at roughly $27.1 million at the end of the quarter.
• Bank of Montreal beat expectations with quarterly EPS of $2.51 and revenue of $7.21 billion (up 6% YoY), and analysts carry a Moderate Buy consensus with an average price target of $163.00.
• The bank announced a quarterly dividend of $1.67 (annualized $6.68) representing a 4.4% yield, with an ex-dividend date of April 29 and payment on May 26.

Montrusco Bolton Investments Inc. lessened its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,443 shares of the bank's stock after selling 18,698 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Bank Of Montreal were worth $27,106,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Citigroup Inc. raised its holdings in Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank's stock valued at $65,479,000 after acquiring an additional 134,699 shares during the period. CIBC Asset Management Inc boosted its position in Bank Of Montreal by 17.3% during the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank's stock valued at $949,441,000 after buying an additional 1,070,546 shares during the period. JCIC Asset Management Inc. purchased a new stake in Bank Of Montreal during the third quarter valued at about $7,939,000. Vanguard Group Inc. boosted its position in Bank Of Montreal by 0.5% during the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank's stock valued at $4,214,676,000 after buying an additional 149,944 shares during the period. Finally, Aviso Financial Inc. boosted its holdings in shares of Bank Of Montreal by 24.2% during the third quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank's stock worth $130,601,000 after purchasing an additional 195,154 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMO shares. TD Securities raised shares of Bank Of Montreal from a "hold" rating to a "buy" rating in a research note on Tuesday, January 27th. Scotiabank reiterated a "sector perform" rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Zacks Research upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Bank Of Montreal in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.00.

Bank Of Montreal Price Performance

BMO stock opened at $152.31 on Friday. The stock has a market cap of $106.75 billion, a PE ratio of 17.69, a P/E/G ratio of 0.98 and a beta of 0.92. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12 month low of $93.77 and a 12 month high of $154.48. The company has a 50-day moving average price of $142.22 and a 200 day moving average price of $134.32.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data 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 company had revenue of $7.21 billion during the quarter, compared to analysts' expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. Equities research analysts anticipate that Bank Of Montreal will post 10.2 earnings per share for the current year.

Bank Of Montreal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 29th. Bank Of Montreal's payout ratio is 56.56%.

Bank Of Montreal 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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