Cambridge Investment Research Advisors Inc. Sells 238 Shares of Bank of Montreal (NYSE:BMO)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,068 shares of the bank’s stock after selling 238 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Bank of Montreal were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC increased its position in Bank of Montreal by 72.6% in the fourth quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock worth $3,226,000 after purchasing an additional 13,718 shares during the last quarter. Triasima Portfolio Management inc. increased its position in Bank of Montreal by 18.9% in the fourth quarter. Triasima Portfolio Management inc. now owns 486,421 shares of the bank’s stock worth $48,219,000 after purchasing an additional 77,285 shares during the last quarter. Intact Investment Management Inc. increased its position in Bank of Montreal by 12.9% in the fourth quarter. Intact Investment Management Inc. now owns 726,141 shares of the bank’s stock worth $71,852,000 after purchasing an additional 82,900 shares during the last quarter. Pacer Advisors Inc. increased its position in Bank of Montreal by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock worth $655,000 after purchasing an additional 126 shares during the last quarter. Finally, Addenda Capital Inc. increased its position in Bank of Montreal by 14.0% in the fourth quarter. Addenda Capital Inc. now owns 848,655 shares of the bank’s stock worth $83,966,000 after purchasing an additional 104,490 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMO. Jefferies Financial Group began coverage on shares of Bank of Montreal in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $137.00 to $124.00 in a research note on Monday. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Barclays started coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

Read Our Latest Analysis on BMO

Bank of Montreal Stock Down 0.3 %

Shares of BMO opened at $86.53 on Friday. The firm has a market capitalization of $63.10 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.31 and a beta of 1.12. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $93.01 and a 200-day moving average price of $92.82.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be paid a dividend of $1.125 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s payout ratio is currently 74.25%.

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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