Triasima Portfolio Management inc. Sells 39,505 Shares of Bank Of Montreal $BMO

Key Points

• Triasima Portfolio Management Inc. reduced its holdings in Bank Of Montreal by 27.6%, selling 39,505 shares and owning 103,567 shares post-sale, making it the fund's 9th largest holding.
• The Bank Of Montreal announced a quarterly dividend of $1.63, a significant increase from the previous $1.18 dividend, with an ex-dividend date set for October 30th.
• Despite a recent dip in stock value, Bank Of Montreal reported an EPS of $2.33 for the quarter, beating analyst estimates, and forecasted 7.71 earnings per share for the current year.

Triasima Portfolio Management inc. reduced its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 27.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,567 shares of the bank's stock after selling 39,505 shares during the period. Bank Of Montreal accounts for about 2.1% of Triasima Portfolio Management inc.'s portfolio, making the stock its 9th largest holding. Triasima Portfolio Management inc.'s holdings in Bank Of Montreal were worth $11,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. Cary Street Partners Investment Advisory LLC increased its stake in Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after buying an additional 190 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal in the 1st quarter valued at $34,000. Truvestments Capital LLC acquired a new stake in Bank Of Montreal in the 1st quarter valued at $39,000. CX Institutional acquired a new stake in Bank Of Montreal in the 1st quarter valued at $42,000. Finally, HM Payson & Co. acquired a new stake in Bank Of Montreal in the 1st quarter valued at $42,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BMO shares. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Royal Bank Of Canada cut shares of Bank Of Montreal from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $168.00 to $163.00 in a report on Friday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank Of Montreal in a report on Saturday, September 27th. Cibc World Mkts raised shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Bank Of Montreal has a consensus rating of "Moderate Buy" and a consensus price target of $163.00.

Bank Of Montreal Stock Down 0.4%

Shares of BMO opened at $128.72 on Wednesday. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $131.36. The firm has a market cap of $92.02 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.03. The firm's 50-day simple moving average is $121.50 and its 200 day simple moving average is $109.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same quarter in the prior year, the business earned $2.64 EPS. Bank Of Montreal's quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $1.63 dividend. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a yield of 5.1%. Bank Of Montreal's dividend payout ratio (DPR) is currently 58.63%.

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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