Bank Of Montreal $BMO Stake Lessened by Resources Management Corp CT ADV

Resources Management Corp CT ADV lessened its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 66.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,395 shares of the bank’s stock after selling 18,405 shares during the period. Resources Management Corp CT ADV’s holdings in Bank Of Montreal were worth $1,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mariner LLC increased its stake in shares of Bank Of Montreal by 10.7% in the fourth quarter. Mariner LLC now owns 58,023 shares of the bank’s stock worth $7,533,000 after buying an additional 5,608 shares during the last quarter. Nicolet Advisory Services LLC increased its stake in shares of Bank Of Montreal by 2.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 5,401 shares of the bank’s stock worth $723,000 after buying an additional 145 shares during the last quarter. Focus Partners Wealth increased its stake in shares of Bank Of Montreal by 28.9% in the fourth quarter. Focus Partners Wealth now owns 12,552 shares of the bank’s stock worth $1,629,000 after buying an additional 2,812 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Bank Of Montreal in the fourth quarter worth $476,000. Finally, Entropy Technologies LP bought a new stake in shares of Bank Of Montreal in the fourth quarter worth $1,499,000. Institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Weiss Ratings raised shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 28th. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bank Of Montreal currently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $168.29 on Monday. The company has a market cap of $117.87 billion, a PE ratio of 17.86, a P/E/G ratio of 0.94 and a beta of 0.95. The company has a fifty day moving average price of $154.08 and a two-hundred day moving average price of $142.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Bank Of Montreal has a 12 month low of $104.08 and a 12 month high of $169.35.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is presently 50.96%.

Bank Of Montreal 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.