JARISLOWSKY FRASER Ltd Sells 8,855 Shares of Bank of Montreal (NYSE:BMO)

JARISLOWSKY FRASER Ltd trimmed its stake in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,414 shares of the bank’s stock after selling 8,855 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Bank of Montreal were worth $31,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Montreal by 192.1% during the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after purchasing an additional 219 shares in the last quarter. Principal Securities Inc. purchased a new position in Bank of Montreal during the fourth quarter valued at $33,000. Cullen Frost Bankers Inc. raised its stake in Bank of Montreal by 3,375.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after buying an additional 405 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Bank of Montreal by 63.5% in the third quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after purchasing an additional 200 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Bank of Montreal in the fourth quarter worth $44,000. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of NYSE:BMO traded up $0.92 during mid-day trading on Monday, reaching $95.47. 1,433,700 shares of the company traded hands, compared to its average volume of 742,695. The company’s 50 day moving average price is $94.14 and its 200-day moving average price is $92.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $100.12. The firm has a market cap of $69.62 billion, a PE ratio of 18.22, a PEG ratio of 2.40 and a beta of 1.14.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.34). The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. On average, equities analysts expect that Bank of Montreal will post 8.31 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be given a $1.1172 dividend. This represents a $4.47 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, April 26th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio is 85.31%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMO shares. Barclays started coverage on Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating for the company. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Jefferies Financial Group started coverage on Bank of Montreal in a research note on Thursday, February 22nd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bank of Montreal currently has an average rating of “Moderate Buy” and a consensus price target of $131.00.

Get Our Latest Stock Analysis on BMO

About Bank of Montreal

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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