Heck Capital Advisors LLC Buys Shares of 3,570 Bank of Montreal (NYSE:BMO)

Heck Capital Advisors LLC bought a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,570 shares of the bank’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Bank of Montreal by 6.0% in the 4th quarter. Bank of New York Mellon Corp now owns 708,767 shares of the bank’s stock worth $68,786,000 after acquiring an additional 40,135 shares in the last quarter. American Century Companies Inc. increased its holdings in Bank of Montreal by 8.0% in the 4th quarter. American Century Companies Inc. now owns 194,218 shares of the bank’s stock worth $18,855,000 after acquiring an additional 14,351 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Bank of Montreal by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,716 shares of the bank’s stock worth $185,694,000 after acquiring an additional 64,799 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Bank of Montreal by 58.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,618 shares of the bank’s stock worth $448,000 after purchasing an additional 1,703 shares during the period. Finally, Cary Street Partners Financial LLC bought a new position in Bank of Montreal in the 4th quarter worth approximately $380,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BMO has been the subject of several recent analyst reports. Royal Bank of Canada upped their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. CIBC reiterated a “neutral” rating on shares of Bank of Montreal in a research report on Tuesday, May 20th. Wall Street Zen upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Cibc World Mkts downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Scotiabank began coverage on Bank of Montreal in a research report on Thursday, May 15th. They set a “sector perform” rating for the company. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $128.40.

Bank of Montreal Stock Up 0.3%

Shares of BMO opened at $103.90 on Monday. The company has a market cap of $75.23 billion, a PE ratio of 14.89, a P/E/G ratio of 1.43 and a beta of 1.03. The business has a fifty day moving average of $96.36 and a 200 day moving average of $97.45. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

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

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.27%. Bank of Montreal’s dividend payout ratio is presently 57.35%.

Bank of Montreal 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.