Truist Financial Corp trimmed its holdings in shares of Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,267 shares of the bank’s stock after selling 2,698 shares during the period. Truist Financial Corp’s holdings in Bank of Montreal were worth $1,708,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of BMO. EverSource Wealth Advisors LLC lifted 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 valued at $28,000 after purchasing an additional 219 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Bank of Montreal in the 3rd quarter valued at about $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 valued at $43,000 after purchasing an additional 200 shares during the last quarter. Global Retirement Partners LLC lifted its stake 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 last quarter. Finally, Independence Bank of Kentucky acquired a new stake in Bank of Montreal in the 4th quarter valued at about $59,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.
Bank of Montreal Trading Up 0.6 %
Shares of BMO stock opened at $93.75 on Friday. The firm has a 50 day moving average price of $93.85 and a two-hundred day moving average price of $90.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $68.37 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12.
Bank of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last issued its quarterly earnings data 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). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $6.34 billion. As a group, analysts predict that Bank of Montreal will post 8.86 earnings per share for the current year.
Bank of Montreal Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a $1.1172 dividend. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.77%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s payout ratio is presently 85.31%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Finally, Barclays initiated coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.00.
View Our Latest Stock Analysis on Bank of Montreal
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.
Further Reading
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Source: defenseworld.net
