ST Germain D J Co. Inc. Reduces Stock Holdings in Bank of Montreal (NYSE:BMO)

ST Germain D J Co. Inc. trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,820 shares of the bank’s stock after selling 4,402 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Bank of Montreal were worth $6,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after buying an additional 201 shares during the last quarter. Addison Advisors LLC grew its stake in Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after buying an additional 246 shares during the last quarter. Vision Financial Markets LLC purchased a new position in Bank of Montreal during the 4th quarter worth $39,000. Dunhill Financial LLC purchased a new position in Bank of Montreal during the 4th quarter worth $39,000. Finally, First Horizon Advisors Inc. grew its stake in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock worth $59,000 after buying an additional 358 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.5%

Bank of Montreal stock opened at $107.85 on Tuesday. The stock’s fifty day moving average is $97.39 and its two-hundred day moving average is $97.98. The stock has a market cap of $77.88 billion, a PE ratio of 15.45, a P/E/G ratio of 1.43 and a beta of 1.03. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $108.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.84. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same quarter in the previous year, the company earned $2.59 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Royal Bank of Canada boosted their price objective on Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Cibc World Mkts cut Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Scotiabank started coverage on Bank of Montreal in a report on Thursday, May 15th. They issued a “sector perform” rating for the company. Finally, CIBC reissued a “neutral” rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.