Crescent Grove Advisors LLC Sells 120 Shares of Bank Of Montreal (NYSE:BMO)

Crescent Grove Advisors LLC decreased its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,829 shares of the bank’s stock after selling 120 shares during the period. Crescent Grove Advisors LLC’s holdings in Bank Of Montreal were worth $461,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bank Of Montreal by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank’s stock valued at $2,960,491,000 after acquiring an additional 576,744 shares in the last quarter. TD Asset Management Inc. grew its stake in Bank Of Montreal by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank’s stock valued at $1,709,215,000 after purchasing an additional 486,984 shares during the period. Toronto Dominion Bank increased its position in shares of Bank Of Montreal by 8.6% during the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank’s stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Bank Of Montreal by 15.4% during the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank’s stock valued at $1,184,636,000 after purchasing an additional 1,630,962 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Bank Of Montreal during the 4th quarter worth $1,014,633,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Scotiabank started coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a “sector perform” rating on the stock. Barclays lowered shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 9th. CIBC reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Cibc World Mkts downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.50.

Bank Of Montreal Stock Performance

NYSE BMO opened at $109.06 on Friday. The company’s 50 day moving average is $102.99 and its 200-day moving average is $99.41. Bank Of Montreal has a 12-month low of $76.98 and a 12-month high of $109.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a market cap of $78.55 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released 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 net margin of 10.25% and a return on equity of 10.15%. The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same period in the previous year, the business earned $2.59 EPS. Bank Of Montreal’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be given a $1.1801 dividend. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.33%. Bank Of Montreal’s payout ratio is 57.33%.

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.