4,453 Shares in Bank of Montreal (NYSE:BMO) Acquired by Nwam LLC

Nwam LLC purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,453 shares of the bank’s stock, valued at approximately $402,000.

Several other institutional investors also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal during the second quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal in the 2nd quarter valued at about $40,000. GHP Investment Advisors Inc. grew its holdings in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares during the period. EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 160 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after buying an additional 451 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMO. Barclays decreased their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Jefferies Financial Group lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Scotiabank downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their target price for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Trading Up 0.3 %

Bank of Montreal stock opened at $94.92 on Monday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $100.12. The firm’s 50-day moving average is $91.87 and its 200-day moving average is $88.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $69.25 billion, a P/E ratio of 14.95, a PEG ratio of 2.56 and a beta of 1.10.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion during 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%. Bank of Montreal’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 earnings per share. On average, equities analysts expect that Bank of Montreal will post 7.4 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.73%. Bank of Montreal’s payout ratio is currently 72.13%.

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.