Timbercreek Investment Management Inc. trimmed its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,459 shares of the bank’s stock after selling 57,319 shares during the period. Timbercreek Investment Management Inc.’s holdings in Bank of Montreal were worth $3,694,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Legacy Capital Partners Inc. lifted its position in shares of Bank of Montreal by 0.6% in the 4th quarter. Legacy Capital Partners Inc. now owns 66,568 shares of the bank’s stock worth $4,350,000 after purchasing an additional 415 shares during the period. Curbstone Financial Management Corp lifted its position in shares of Bank of Montreal by 1.1% in the 4th quarter. Curbstone Financial Management Corp now owns 28,650 shares of the bank’s stock worth $2,213,000 after purchasing an additional 300 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its position in shares of Bank of Montreal by 1.1% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 65,796 shares of the bank’s stock worth $4,299,000 after purchasing an additional 705 shares during the period. Marshall Wace North America L.P. lifted its position in shares of Bank of Montreal by 7.2% in the 3rd quarter. Marshall Wace North America L.P. now owns 8,900 shares of the bank’s stock worth $734,000 after purchasing an additional 600 shares during the period. Finally, Vanguard Group Inc lifted its position in shares of Bank of Montreal by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 16,878,668 shares of the bank’s stock worth $1,392,996,000 after purchasing an additional 444,234 shares during the period. 43.95% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on BMO. Zacks Investment Research raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, October 16th. Barclays reissued a “hold” rating on shares of Bank of Montreal in a research report on Friday, November 16th. ValuEngine cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Canaccord Genuity reissued a “buy” rating on shares of Bank of Montreal in a research report on Thursday, November 22nd. Finally, TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Bank of Montreal presently has an average rating of “Hold” and an average target price of $102.00.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, December 4th. The bank reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.57. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.61 billion. Bank of Montreal had a net margin of 16.91% and a return on equity of 14.97%. Bank of Montreal’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.94 EPS. On average, equities research analysts predict that Bank of Montreal will post 7.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 1st will be paid a dividend of $0.753 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, January 31st. Bank of Montreal’s dividend payout ratio (DPR) is currently 41.77%.
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Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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