Bank Of Montreal $BMO Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 18.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,297,431 shares of the bank’s stock after selling 736,755 shares during the quarter. JPMorgan Chase & Co. owned 0.47% of Bank Of Montreal worth $427,974,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Bank Of Montreal by 36.6% in the third quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock worth $65,479,000 after buying an additional 134,699 shares during the period. Jefferies Financial Group Inc. increased its position in Bank Of Montreal by 6,300.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after buying an additional 472,000 shares during the period. Vanguard Group Inc. increased its position in Bank Of Montreal by 0.5% in the third quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock worth $4,214,676,000 after buying an additional 149,944 shares during the period. Aviso Financial Inc. increased its position in Bank Of Montreal by 24.2% in the third quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank’s stock worth $130,601,000 after buying an additional 195,154 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in Bank Of Montreal by 16.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock worth $21,484,000 after buying an additional 23,113 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMO has been the topic of several analyst reports. Scotiabank raised Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, June 1st. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Price Performance

Shares of BMO opened at $164.55 on Thursday. The firm has a market capitalization of $115.25 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. Bank Of Montreal has a one year low of $104.08 and a one year high of $167.07. The stock’s fifty day moving average is $152.83 and its 200-day moving average is $141.59.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.62 earnings per share. Equities analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is 50.96%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.