Ossiam Sells 23,583 Shares of Bank of Montreal (NYSE:BMO)

Ossiam lessened its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,615 shares of the bank’s stock after selling 23,583 shares during the period. Ossiam’s holdings in Bank of Montreal were worth $5,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after acquiring an additional 201 shares during the period. Addison Advisors LLC lifted its position in shares of Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal during the fourth quarter valued at $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal in the third quarter worth about $45,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock worth $59,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bank of Montreal Stock Up 0.6 %

Bank of Montreal stock opened at $93.39 on Friday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00. The business has a fifty day moving average of $96.77 and a two-hundred day moving average of $96.26. The firm has a market cap of $67.62 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.

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

Bank of Montreal Cuts Dividend

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

Bank of Montreal Company 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.