Romano Brothers AND Company Has $4.91 Million Holdings in Bank of Montreal (NYSE:BMO)

Romano Brothers AND Company lessened its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,433 shares of the bank’s stock after selling 500 shares during the quarter. Romano Brothers AND Company’s holdings in Bank of Montreal were worth $4,912,000 as of its most recent filing with the Securities and Exchange Commission.

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

Bank of Montreal Stock Up 0.5%

BMO stock opened at $107.85 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $97.39 and a two-hundred day moving average price of $97.98. The company has a market cap of $77.88 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.43 and a beta of 1.03. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $108.38.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. Analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 4.38%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 58.75%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Scotiabank assumed coverage on Bank of Montreal in a research note on Thursday, May 15th. They set a “sector perform” rating on the stock. CIBC reissued a “neutral” rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Cibc World Mkts lowered Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Wall Street Zen raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada lifted their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bank of Montreal presently has an average rating of “Hold” and an average 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.