Bank Of Montreal $BMO Stock Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. decreased its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 983,830 shares of the bank’s stock after selling 15,436 shares during the quarter. Bank Of Montreal accounts for approximately 3.7% of Cardinal Capital Management Inc.’s portfolio, making the stock its 6th largest position. Cardinal Capital Management Inc.’s holdings in Bank Of Montreal were worth $164,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of Bank Of Montreal by 0.3% during the second quarter. HighTower Advisors LLC now owns 22,179 shares of the bank’s stock worth $3,919,000 after purchasing an additional 58 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Bank Of Montreal by 1.9% in the second quarter. Versant Capital Management Inc now owns 4,241 shares of the bank’s stock valued at $749,000 after buying an additional 78 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock valued at $425,000 after buying an additional 88 shares during the last quarter. Turn8 Private Wealth Inc. raised its holdings in shares of Bank Of Montreal by 0.8% in the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank’s stock valued at $1,514,000 after buying an additional 93 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in shares of Bank Of Montreal by 5.6% in the first quarter. Arkadios Wealth Advisors now owns 1,775 shares of the bank’s stock valued at $240,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.6%

NYSE BMO opened at $167.13 on Friday. The stock has a fifty day moving average of $172.47 and a 200-day moving average of $166.48. The stock has a market capitalization of $116.17 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. Bank Of Montreal has a 52 week low of $119.84 and a 52 week high of $187.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be issued a dividend of C$1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 30th. Bank Of Montreal’s payout ratio is currently 54.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BMO shares. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research report on Friday, August 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $244.00.

About Bank Of Montreal

Bank of Montreal, operating under the BMO Financial Group name, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada’s largest banks and the country’s oldest continuously operating bank.

BMO provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and cash-management products. Through its wealth management businesses, the company offers investment, advisory, private banking, asset-management and retirement-planning services to individuals, families and institutions.

The company also operates a capital markets business that provides investment banking, corporate lending, financial advisory, trading, research and other services to corporations, governments and institutional clients.