Ballentine Partners LLC lifted its holdings in Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,242 shares of the bank’s stock after buying an additional 319 shares during the period. Ballentine Partners LLC’s holdings in Bank of Montreal were worth $315,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its stake in shares of Bank of Montreal by 2,701.7% during the third quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock worth $2,747,000 after acquiring an additional 29,367 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Bank of Montreal by 80.0% in the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock valued at $11,344,000 after purchasing an additional 55,823 shares during the last quarter. Intact Investment Management Inc. boosted its stake in Bank of Montreal by 72.9% in the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock worth $53,082,000 after purchasing an additional 248,098 shares in the last quarter. JPMorgan Chase & Co. grew its position in Bank of Montreal by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank’s stock worth $300,137,000 after purchasing an additional 144,252 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its stake in Bank of Montreal by 4.9% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank’s stock valued at $117,326,000 after purchasing an additional 60,155 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BMO has been the subject of several research reports. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $133.00 to $161.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $128.00.
Bank of Montreal Stock Up 0.8 %
Bank of Montreal stock opened at $100.96 on Friday. The business’s 50-day moving average price is $97.24 and its 200 day moving average price is $91.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63.
Bank of Montreal Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a dividend yield of 4.49%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s payout ratio is 65.62%.
Bank of Montreal Profile
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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