Bank Of Montreal $BMO Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,582,582 shares of the bank’s stock after selling 2,532 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.22% of Bank Of Montreal worth $175,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC grew its position in Bank Of Montreal by 11.7% during the first quarter. Cerity Partners LLC now owns 12,197 shares of the bank’s stock worth $1,165,000 after buying an additional 1,281 shares during the period. Private Advisor Group LLC lifted its position in shares of Bank Of Montreal by 5.0% during the 1st quarter. Private Advisor Group LLC now owns 22,439 shares of the bank’s stock valued at $2,143,000 after acquiring an additional 1,068 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Bank Of Montreal during the 1st quarter worth approximately $86,000. Wealth Alliance LLC boosted its stake in shares of Bank Of Montreal by 1.8% during the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock worth $778,000 after acquiring an additional 142 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Bank Of Montreal by 4.3% in the 1st quarter. Allianz Asset Management GmbH now owns 48,427 shares of the bank’s stock worth $4,624,000 after acquiring an additional 2,009 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $123.90 on Monday. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a market capitalization of $88.17 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.28 and a beta of 1.04. The stock has a fifty day moving average of $126.94 and a two-hundred day moving average of $116.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.64 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a dividend yield of 5.3%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio is 57.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. National Bankshares reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. Finally, Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.