Gold Investment Management Ltd. Boosts Stake in Bank of Montreal (NYSE:BMO)

Gold Investment Management Ltd. boosted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,905 shares of the bank’s stock after buying an additional 268 shares during the period. Gold Investment Management Ltd.’s holdings in Bank of Montreal were worth $1,888,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Bank of Montreal in the second quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal in the 2nd quarter valued at $40,000. GHP Investment Advisors Inc. boosted its holdings in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Bank of Montreal by 34.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after acquiring an additional 160 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Shares of BMO traded down $0.40 during trading hours on Friday, hitting $92.83. The stock had a trading volume of 32,248 shares, compared to its average volume of 899,604. Bank of Montreal has a 52 week low of $76.83 and a 52 week high of $100.12. The company’s fifty day moving average is $89.41 and its two-hundred day moving average is $88.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $67.72 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.31 and a beta of 1.10.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. On average, analysts anticipate that Bank of Montreal will post 8 EPS for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.84%. Bank of Montreal’s dividend payout ratio (DPR) is presently 72.13%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BMO shares. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Royal Bank of Canada lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. Finally, Barclays cut their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.75.

About Bank of Montreal

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.