Stifel Financial Corp Increases Stake in Bank of Montreal (NYSE:BMO)

Stifel Financial Corp raised its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,232 shares of the bank’s stock after acquiring an additional 3,496 shares during the quarter. Stifel Financial Corp’s holdings in Bank of Montreal were worth $13,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BMO. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal during the second quarter valued at about $34,000. Rothschild Investment LLC purchased a new stake in Bank of Montreal in the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. raised its stake in Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. lifted its holdings in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Bank of Montreal in the second quarter worth approximately $65,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.0 %

Shares of BMO opened at $100.81 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $73.55 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The business’s 50 day simple moving average is $93.54 and its 200-day simple moving average is $88.41.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 annualized dividend and a yield of 4.50%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio (DPR) is 67.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMO. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $122.40.

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.