TD Waterhouse Canada Inc. Sells 62,549 Shares of Bank Of Montreal $BMO

TD Waterhouse Canada Inc. lessened its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,282,520 shares of the bank’s stock after selling 62,549 shares during the quarter. Bank Of Montreal accounts for about 1.8% of TD Waterhouse Canada Inc.’s holdings, making the stock its 8th biggest holding. TD Waterhouse Canada Inc. owned approximately 0.32% of Bank Of Montreal worth $253,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ascent Group LLC boosted its position in shares of Bank Of Montreal by 3.5% during the 2nd quarter. Ascent Group LLC now owns 2,756 shares of the bank’s stock worth $305,000 after purchasing an additional 92 shares during the period. Princeton Global Asset Management LLC lifted its stake in Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its position in shares of Bank Of Montreal by 4.5% during the second quarter. Focus Partners Advisor Solutions LLC now owns 2,616 shares of the bank’s stock worth $289,000 after buying an additional 112 shares during the period. Wedbush Securities Inc. grew its stake in shares of Bank Of Montreal by 4.5% in the second quarter. Wedbush Securities Inc. now owns 3,091 shares of the bank’s stock valued at $342,000 after buying an additional 132 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Bank Of Montreal by 0.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 23,986 shares of the bank’s stock valued at $2,654,000 after buying an additional 169 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMO. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $168.00 to $163.00 in a report on Friday, October 3rd. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. UBS Group restated a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. National Bankshares reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. Finally, Cibc World Mkts raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Down 0.3%

BMO stock opened at $121.71 on Wednesday. The company’s 50 day moving average price is $126.75 and its 200 day moving average price is $116.35. The firm has a market capitalization of $86.61 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.28 and a beta of 1.04. 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 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 results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm 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 $1.63 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s payout ratio is 57.28%.

Bank Of Montreal 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.