Quantinno Capital Management LP Purchases 7,093 Shares of Bank of Montreal (NYSE:BMO)

Quantinno Capital Management LP increased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 77.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,215 shares of the bank's stock after buying an additional 7,093 shares during the quarter. Quantinno Capital Management LP's holdings in Bank of Montreal were worth $1,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMO. IFP Advisors Inc grew its stake in shares of Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC boosted its holdings in Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC bought a new position in Bank of Montreal in the fourth quarter valued at $39,000. Dunhill Financial LLC acquired a new stake in Bank of Montreal in the 4th quarter valued at $39,000. Finally, First Horizon Advisors Inc. lifted its position in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. CIBC cut Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Scotiabank initiated coverage on Bank of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Cibc World Mkts cut Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Royal Bank of Canada raised their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Bank of Montreal currently has a consensus rating of "Hold" and an average price target of $128.40.

Bank of Montreal Stock Down 0.1%

BMO opened at $103.42 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $106.00. The stock has a fifty day moving average of $96.12 and a 200-day moving average of $97.21. The company has a market capitalization of $74.88 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter last year, the business earned $2.56 earnings per share. Bank of Montreal's revenue was up 20.8% on a year-over-year basis. On average, equities analysts expect that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.29%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.35%.

Bank of Montreal Company 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.

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