Investment Management Corp of Ontario Cuts Position in Bank of Montreal (NYSE:BMO)

Investment Management Corp of Ontario decreased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,783 shares of the bank's stock after selling 2,807 shares during the quarter. Investment Management Corp of Ontario's holdings in Bank of Montreal were worth $11,916,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC increased 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 purchasing an additional 246 shares during the period. Vision Financial Markets LLC bought a new stake in Bank of Montreal during the 4th quarter worth about $39,000. Dunhill Financial LLC bought a new position in Bank of Montreal in the fourth quarter valued at approximately $39,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal during the 3rd quarter worth $45,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. CIBC cut shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research report on Friday, April 4th. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Cibc World Mkts lowered shares of 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 increased their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $128.40.

Bank of Montreal Price Performance

NYSE:BMO opened at $99.56 on Friday. The stock's 50-day simple moving average is $95.26 and its 200 day simple moving average is $96.67. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $72.09 billion, a P/E ratio of 14.26, 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 earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. Bank of Montreal's revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. As a group, sell-side analysts forecast that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.46%. Bank of Montreal's dividend payout ratio is currently 57.35%.

Bank of Montreal 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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