TD Waterhouse Canada Inc. Has $300.78 Million Stake in Bank Of Montreal $BMO

Key Points

• TD Waterhouse trimmed its BMO stake by 2.5% to 2,316,589 shares — roughly a $300.78 million holding (about 0.33% of the company), making BMO its ninth-largest position.
• Analysts are mixed but mildly positive: BMO has an average rating of "Moderate Buy" with an average price target of $163, including recent upgrades (TD Securities) and downgrades (Barclays).
• BMO beat quarterly expectations with $2.51 EPS (vs. $2.35 est.) and $7.21B revenue (vs. $6.73B est.), and it declared a quarterly dividend of $1.67 ($6.68 annualized) for a ~4.4% yield.

TD Waterhouse Canada Inc. lessened its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,316,589 shares of the bank's stock after selling 60,308 shares during the quarter. Bank Of Montreal accounts for 1.9% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 9th largest position. TD Waterhouse Canada Inc. owned approximately 0.33% of Bank Of Montreal worth $300,775,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Code Waechter LLC grew its stake in Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank's stock valued at $582,000 after purchasing an additional 75 shares during the period. Allworth Financial LP grew its stake in Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank's stock valued at $276,000 after purchasing an additional 94 shares during the period. Choreo LLC grew its stake in Bank Of Montreal by 3.6% in the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank's stock valued at $356,000 after purchasing an additional 95 shares during the period. United Capital Financial Advisors LLC grew its stake in Bank Of Montreal by 4.0% in the 3rd quarter. United Capital Financial Advisors LLC now owns 2,619 shares of the bank's stock valued at $341,000 after purchasing an additional 101 shares during the period. Finally, Signaturefd LLC grew its stake in Bank Of Montreal by 1.0% in the 4th quarter. Signaturefd LLC now owns 10,714 shares of the bank's stock valued at $1,391,000 after purchasing an additional 105 shares during the period. Institutional investors own 45.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMO shares. TD Securities upgraded Bank Of Montreal from a "hold" rating to a "buy" rating in a research note on Tuesday, January 27th. Jefferies Financial Group reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. National Bank Financial reiterated a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Wall Street Zen upgraded Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Finally, Barclays downgraded Bank Of Montreal from an "equal weight" rating to an "underweight" rating in a research note on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO opened at $151.94 on Monday. The stock's 50-day simple moving average is $141.33 and its 200 day simple moving average is $133.60. The stock has a market capitalization of $106.49 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a 52-week low of $91.74 and a 52-week high of $153.67.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion for the quarter, compared to analysts' expectations of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 EPS. Research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

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

About Bank Of Montreal

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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