Bank of Montreal (NYSE:BMO) Shares Acquired by Guardian Capital LP

Guardian Capital LP raised its holdings in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,635,504 shares of the bank’s stock after buying an additional 41,547 shares during the period. Bank of Montreal comprises about 9.4% of Guardian Capital LP’s holdings, making the stock its largest position. Guardian Capital LP owned approximately 0.36% of Bank of Montreal worth $262,051,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Bank of Montreal by 192.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after buying an additional 219 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of Montreal in the third quarter valued at about $33,000. Principal Securities Inc. bought a new position in shares of Bank of Montreal during the fourth quarter valued at about $33,000. Cullen Frost Bankers Inc. boosted its holdings in Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after purchasing an additional 405 shares during the last quarter. Finally, Crewe Advisors LLC grew its position in Bank of Montreal by 63.5% in the 3rd quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after purchasing an additional 200 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMO has been the topic of several recent analyst reports. Barclays began coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating on the stock. Jefferies Financial Group initiated coverage on Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.00.

View Our Latest Analysis on BMO

Bank of Montreal Stock Performance

Shares of BMO stock traded up $0.39 during trading hours on Tuesday, hitting $94.50. 327,471 shares of the company were exchanged, compared to its average volume of 748,912. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $93.97 and a 200 day simple moving average of $91.26. The stock has a market capitalization of $68.91 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.81 and a beta of 1.14.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (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 firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Research analysts predict that Bank of Montreal will post 8.86 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently disclosed 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 is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 annualized dividend and a yield of 4.73%. Bank of Montreal’s dividend payout ratio is 85.31%.

Bank of Montreal Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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