Foster & Motley Inc. Trims Stock Holdings in Bank of Montreal (NYSE:BMO)

Foster & Motley Inc. lowered its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,703 shares of the bank’s stock after selling 6,859 shares during the period. Foster & Motley Inc.’s holdings in Bank of Montreal were worth $762,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in Bank of Montreal by 192.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock worth $28,000 after purchasing an additional 219 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in Bank of Montreal during the 3rd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Bank of Montreal in the 3rd quarter worth approximately $33,000. Crewe Advisors LLC lifted its stake in Bank of Montreal by 63.5% in the 3rd quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after purchasing an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Bank of Montreal by 177.4% in the 4th quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock valued at $50,000 after purchasing an additional 337 shares during the period. 45.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent analyst reports. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Barclays started coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Finally, Jefferies Financial Group initiated coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bank of Montreal currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.00.

Bank of Montreal Stock Up 0.9 %

Shares of NYSE:BMO opened at $93.82 on Wednesday. The firm has a market capitalization of $68.42 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The firm has a fifty day moving average of $94.26 and a 200 day moving average of $90.05.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. As a group, research analysts anticipate that Bank of Montreal will post 8.94 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be paid a $1.1172 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $4.47 annualized dividend and a yield of 4.76%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio is currently 62.02%.

Bank of Montreal Company 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.