Bank Of Montreal $BMO Position Lessened by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 30.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,264 shares of the bank’s stock after selling 7,975 shares during the quarter. TD Private Client Wealth LLC’s holdings in Bank Of Montreal were worth $2,370,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Passumpsic Savings Bank acquired a new position in Bank Of Montreal during the 4th quarter worth $690,000. Abacus Wealth Partners LLC bought a new stake in Bank Of Montreal during the fourth quarter worth approximately $1,184,000. AlphaCore Capital LLC grew its holdings in shares of Bank Of Montreal by 19.4% in the 4th quarter. AlphaCore Capital LLC now owns 2,419 shares of the bank’s stock worth $314,000 after acquiring an additional 393 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Bank Of Montreal by 2,127.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after purchasing an additional 333,994 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new position in shares of Bank Of Montreal in the fourth quarter worth approximately $401,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. National Bank Financial reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays lowered Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Stock Performance

NYSE BMO opened at $154.10 on Wednesday. Bank Of Montreal has a twelve month low of $102.70 and a twelve month high of $156.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $144.69 and its 200 day simple moving average is $137.16. The stock has a market cap of $108.01 billion, a P/E ratio of 17.90, a PEG ratio of 0.87 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter last year, the company earned $3.04 EPS. Bank Of Montreal’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts forecast that Bank Of Montreal will post 11.57 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.3%. Bank Of Montreal’s payout ratio is 55.75%.

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.