FORA Capital LLC Sells 4,357 Shares of Bank of Montreal (NYSE:BMO)

FORA Capital LLC decreased its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 44.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,501 shares of the bank’s stock after selling 4,357 shares during the period. FORA Capital LLC’s holdings in Bank of Montreal were worth $490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Bank of Montreal in the fourth quarter valued at about $561,431,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Bank of Montreal by 64.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,386,576 shares of the bank’s stock worth $487,632,000 after buying an additional 2,107,925 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Bank of Montreal by 20.6% in the 1st quarter. Toronto Dominion Bank now owns 12,305,752 shares of the bank’s stock worth $1,097,768,000 after buying an additional 2,100,110 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Bank of Montreal by 13.5% during the first quarter. National Bank of Canada FI now owns 12,015,537 shares of the bank’s stock valued at $1,069,410,000 after acquiring an additional 1,429,964 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Bank of Montreal by 6.1% in the first quarter. Vanguard Group Inc. now owns 22,478,058 shares of the bank’s stock worth $2,651,736,000 after acquiring an additional 1,293,280 shares during the period. 43.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMO shares. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Barclays boosted their price target on shares of Bank of Montreal from $123.00 to $131.00 and gave the company an “overweight” rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.25.

Bank of Montreal Trading Down 0.9 %

NYSE BMO opened at $84.48 on Thursday. The stock’s 50 day moving average is $88.66 and its 200 day moving average is $88.95. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $60.56 billion, a PE ratio of 11.19, a P/E/G ratio of 1.40 and a beta of 1.16. Bank of Montreal has a twelve month low of $81.55 and a twelve month high of $102.79.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Monday, October 30th will be given a $1.11 dividend. The ex-dividend date is Friday, October 27th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.09. This represents a $4.44 dividend on an annualized basis and a dividend yield of 5.26%. Bank of Montreal’s dividend payout ratio is currently 58.81%.

Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, 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.