Bank of Montreal (NYSE:BMO) Holdings Trimmed by Truist Financial Corp

Truist Financial Corp trimmed its position in shares of Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) by 9.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,308 shares of the bank’s stock after selling 1,258 shares during the quarter. Truist Financial Corp’s holdings in Bank of Montreal were worth $1,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Moore & CO. grew its holdings in shares of Bank of Montreal by 45.9% during the 2nd quarter. Smith Moore & CO. now owns 2,758 shares of the bank’s stock valued at $265,000 after acquiring an additional 868 shares in the last quarter. Pendal Group Ltd grew its holdings in shares of Bank of Montreal by 135.0% during the 2nd quarter. Pendal Group Ltd now owns 12,737 shares of the bank’s stock valued at $1,225,000 after acquiring an additional 7,317 shares in the last quarter. Veriti Management LLC grew its holdings in shares of Bank of Montreal by 2.0% during the 2nd quarter. Veriti Management LLC now owns 7,673 shares of the bank’s stock valued at $738,000 after acquiring an additional 147 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Bank of Montreal by 4.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,743 shares of the bank’s stock valued at $264,000 after acquiring an additional 125 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Bank of Montreal during the 2nd quarter valued at $603,000. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Performance

NYSE:BMO opened at $97.56 on Friday. The firm’s 50-day moving average is $94.71 and its 200-day moving average is $94.72. Bank of Montreal has a 52-week low of $81.57 and a 52-week high of $122.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $68.62 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 1.48 and a beta of 1.13.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Monday, January 30th will be issued a dividend of $1.0548 per share. The ex-dividend date is Friday, January 27th. This represents a $4.22 annualized dividend and a dividend yield of 4.32%. Bank of Montreal’s payout ratio is 26.27%.

Analysts Set New Price Targets

Several research firms recently issued reports on BMO. Bank Of America (Bofa) lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a research note on Monday, December 12th. BMO Capital Markets reduced their price objective on shares of Bank of Montreal from C$151.00 to C$147.50 in a research note on Thursday. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a research note on Monday, December 12th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, December 7th. Finally, Credit Suisse Group initiated coverage on shares of Bank of Montreal in a research note on Monday, December 19th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.31.

Bank of Montreal Company Profile

(Get Rating)

Bank of Montreal engages in the provision of diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, personal loans, small business lending, cash management, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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

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