NBT Bank N A NY lowered its position in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 95.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,012 shares of the bank's stock after selling 43,824 shares during the quarter. NBT Bank N A NY's holdings in Bank Of Montreal were worth $192,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of BMO. IFP Advisors Inc grew its stake in shares of Bank Of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after buying an additional 201 shares during the period. Addison Advisors LLC grew its position in Bank Of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after acquiring an additional 246 shares during the period. Vision Financial Markets LLC purchased a new position in Bank Of Montreal in the fourth quarter worth approximately $39,000. Dunhill Financial LLC purchased a new position in Bank Of Montreal in the fourth quarter worth approximately $39,000. Finally, CX Institutional purchased a new position in shares of Bank Of Montreal during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 45.82% of the company's stock.
Wall Street Analyst Weigh In
BMO has been the subject of a number of research analyst reports. Barclays cut Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Scotiabank initiated coverage on shares of Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. Cibc World Mkts lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Royal Bank Of Canada lifted their target price on Bank Of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $129.50.
View Our Latest Stock Report on BMO
Bank Of Montreal Price Performance
Bank Of Montreal stock opened at $106.20 on Thursday. The stock has a market cap of $76.69 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The company has a fifty day simple moving average of $100.92 and a 200-day simple moving average of $99.01. Bank Of Montreal has a 12-month low of $76.98 and a 12-month high of $109.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.
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, hitting analysts' consensus estimates of $1.84. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. Bank Of Montreal's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 EPS. Equities analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.
Bank Of Montreal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 annualized dividend and a yield of 4.44%. Bank Of Montreal's payout ratio is presently 61.48%.
About Bank Of Montreal
(
Free Report)
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.
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