Studio Investment Management LLC Has $144,000 Holdings in Bank of Montreal (NYSE:BMO)

Studio Investment Management LLC decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,488 shares of the bank’s stock after selling 180 shares during the quarter. Studio Investment Management LLC’s holdings in Bank of Montreal were worth $144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Bank of Montreal during the fourth quarter worth $1,014,633,000. The Manufacturers Life Insurance Company grew its holdings in Bank of Montreal by 42.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank’s stock worth $664,742,000 after acquiring an additional 2,044,862 shares during the period. Federated Hermes Inc. raised its position in shares of Bank of Montreal by 1,527.7% in the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank’s stock worth $112,626,000 after acquiring an additional 1,089,199 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bank of Montreal by 29.4% in the 4th quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank’s stock valued at $422,450,000 after purchasing an additional 975,777 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its position in shares of Bank of Montreal by 11.9% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,616,614 shares of the bank’s stock valued at $642,016,000 after purchasing an additional 704,197 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $102.78 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $95.69 and a two-hundred day simple moving average of $97.00. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The firm has a market capitalization of $74.42 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm posted $2.56 earnings per share. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts forecast that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. This represents a $4.44 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio is currently 57.35%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cibc World Mkts downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada lifted their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. CIBC downgraded shares of Bank of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Friday, April 4th. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Scotiabank assumed coverage on shares of Bank of Montreal in a research note on Thursday. They issued a “sector perform” rating for the company. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and a consensus target price of $128.40.

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.