Federated Hermes Inc. Cuts Stock Position in Bank of Montreal (NYSE:BMO)

Federated Hermes Inc. reduced its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,337 shares of the bank’s stock after selling 4,162 shares during the quarter. Federated Hermes Inc.’s holdings in Bank of Montreal were worth $8,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMO. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of Montreal by 192.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock worth $28,000 after purchasing an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Bank of Montreal in the 3rd quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Bank of Montreal in the 3rd quarter worth about $33,000. Crewe Advisors LLC boosted its holdings in shares of 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. Finally, Global Retirement Partners LLC boosted its holdings in Bank of Montreal by 177.4% during the 4th quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock valued at $50,000 after acquiring an additional 337 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BMO shares. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Barclays began coverage on Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating for the company. Finally, Jefferies Financial Group began coverage on Bank of Montreal in a research report on Thursday, February 22nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued 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.

Bank of Montreal Trading Down 1.0 %

BMO opened at $92.84 on Thursday. The business has a 50 day simple moving average of $94.27 and a two-hundred day simple moving average of $90.07. The firm has a market capitalization of $67.70 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $6.34 billion. Analysts predict that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a $1.1172 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $4.47 annualized dividend and a dividend yield of 4.81%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio is currently 62.02%.

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.