Bank of Nova Scotia Trust Co. Has $48.88 Million Holdings in Bank of Montreal (NYSE:BMO)

Bank of Nova Scotia Trust Co. boosted its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 503,614 shares of the bank’s stock after acquiring an additional 5,393 shares during the period. Bank of Montreal accounts for 5.2% of Bank of Nova Scotia Trust Co.’s investment portfolio, making the stock its 2nd largest holding. Bank of Nova Scotia Trust Co. owned about 0.07% of Bank of Montreal worth $48,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after buying an additional 201 shares during the period. Addison Advisors LLC increased its position in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after buying an additional 246 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Bank of Montreal during the 4th quarter worth approximately $39,000. Wilmington Savings Fund Society FSB bought a new position in Bank of Montreal in the third quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Bank of Montreal by 140.9% during the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Bank of Montreal stock opened at $93.39 on Friday. The stock has a market cap of $67.89 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.43 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average price is $96.77 and its two-hundred day moving average price is $96.22. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the firm earned $2.56 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts predict that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.75%. Bank of Montreal’s dividend payout ratio (DPR) is presently 57.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BMO shares. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Royal Bank of Canada lifted their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Cibc World Mkts cut shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, CIBC lowered Bank of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $128.40.

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.