National Bank of Canada FI Sells 1,289,362 Shares of Bank of Montreal (NYSE:BMO)

National Bank of Canada FI decreased its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,195,214 shares of the bank's stock after selling 1,289,362 shares during the quarter. Bank of Montreal makes up 1.6% of National Bank of Canada FI's portfolio, making the stock its 7th biggest position. National Bank of Canada FI owned approximately 1.41% of Bank of Montreal worth $998,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMO. Vanguard Group Inc. increased its position in Bank of Montreal by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 27,191,193 shares of the bank's stock valued at $2,294,121,000 after buying an additional 468,761 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Bank of Montreal by 10.6% during the third quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank's stock valued at $1,247,154,000 after acquiring an additional 1,417,298 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Bank of Montreal by 5.4% in the 4th quarter. Mackenzie Financial Corp now owns 14,495,589 shares of the bank's stock worth $1,435,002,000 after purchasing an additional 738,579 shares during the last quarter. Toronto Dominion Bank boosted its stake in Bank of Montreal by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 14,042,593 shares of the bank's stock worth $1,184,774,000 after purchasing an additional 679,340 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Bank of Montreal by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 8,326,233 shares of the bank's stock valued at $704,551,000 after purchasing an additional 29,706 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Bank of Montreal Stock Performance

Shares of BMO stock traded up $1.34 during mid-day trading on Friday, reaching $91.23. 486,885 shares of the company's stock traded hands, compared to its average volume of 933,216. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The firm has a 50 day moving average price of $93.71 and a two-hundred day moving average price of $90.45. The firm has a market capitalization of $66.53 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $6.34 billion. On average, research analysts forecast that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be issued a dividend of $1.1172 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $4.47 annualized dividend and a yield of 4.90%. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's payout ratio is currently 41.79%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BMO shares. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, March 3rd. Jefferies Financial Group assumed coverage on Bank of Montreal in a report on Thursday, February 22nd. They issued a "buy" rating on the stock. Finally, Barclays began coverage on Bank of Montreal in a research note on Wednesday, March 20th. They set an "overweight" rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $131.00.

About Bank of Montreal

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.