Bank Of Montreal $BMO Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC cut its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,315,207 shares of the bank’s stock after selling 6,708 shares during the period. Newport Trust Company LLC owned approximately 0.19% of Bank Of Montreal worth $170,701,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. WFA of San Diego LLC purchased a new position in Bank Of Montreal in the 2nd quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Bank Of Montreal in the fourth quarter worth about $34,000. Sunbelt Securities Inc. acquired a new position in shares of Bank Of Montreal in the third quarter worth about $42,000. Finally, Bayforest Capital Ltd increased its position in shares of Bank Of Montreal by 669.6% in the fourth quarter. Bayforest Capital Ltd now owns 354 shares of the bank’s stock worth $46,000 after acquiring an additional 308 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a report on Friday, April 17th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Price Performance

BMO opened at $159.83 on Friday. The stock has a market cap of $112.02 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 0.89 and a beta of 0.94. Bank Of Montreal has a 1 year low of $102.70 and a 1 year high of $160.29. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $145.34 and a 200 day moving average price of $137.65.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts forecast that Bank Of Montreal will post 11.56 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.2%. Bank Of Montreal’s payout ratio is currently 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.