Allspring Global Investments Holdings LLC Lowers Stake in Bank of Montreal (NYSE:BMO)

Allspring Global Investments Holdings LLC lowered its stake in shares of Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,415 shares of the bank’s stock after selling 613 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bank of Montreal were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Money Concepts Capital Corp lifted its holdings in Bank of Montreal by 266.7% during the second quarter. Money Concepts Capital Corp now owns 275 shares of the bank’s stock worth $27,000 after buying an additional 200 shares during the period. Private Trust Co. NA purchased a new stake in Bank of Montreal during the second quarter worth $34,000. Ronald Blue Trust Inc. purchased a new stake in Bank of Montreal during the second quarter worth $45,000. Northern Oak Wealth Management Inc. purchased a new stake in Bank of Montreal during the second quarter worth $39,000. Finally, Hexagon Capital Partners LLC increased its position in shares of Bank of Montreal by 103.5% during the third quarter. Hexagon Capital Partners LLC now owns 403 shares of the bank’s stock worth $35,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

Bank of Montreal Price Performance

NYSE BMO opened at $99.62 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $94.69 and its 200 day moving average price is $94.75. Bank of Montreal has a 1 year low of $81.57 and a 1 year high of $122.77. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.48 and a beta of 1.13.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last posted its quarterly earnings results on Thursday, December 1st. The bank reported $2.28 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.01). Bank of Montreal had a net margin of 30.35% and a return on equity of 14.95%. The business had revenue of $7.94 billion during the quarter. As a group, equities research analysts forecast that Bank of Montreal will post 10.08 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Monday, January 30th will be issued a $1.0548 dividend. This represents a $4.22 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Friday, January 27th. Bank of Montreal’s payout ratio is 26.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BMO shares. Credit Suisse Group started coverage on Bank of Montreal in a research report on Monday, December 19th. They set an “outperform” rating on the stock. Bank Of America (Bofa) downgraded Bank of Montreal from a “buy” rating to a “neutral” rating in a research report on Monday, December 12th. BMO Capital Markets reduced their price target on Bank of Montreal from C$151.00 to C$147.50 in a research report on Thursday, January 19th. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, December 7th. Finally, Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating in a research report on Monday, December 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.31.

About Bank of Montreal

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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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