Signaturefd LLC Lowers Stake in Bank Of Montreal $BMO

Signaturefd LLC lowered its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% in the second quarter, HoldingsChannel.com reports. The firm owned 10,254 shares of the bank’s stock after selling 487 shares during the period. Signaturefd LLC’s holdings in Bank Of Montreal were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after purchasing an additional 190 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $39,000. CX Institutional purchased a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $42,000. Finally, HM Payson & Co. purchased a new position in shares of Bank Of Montreal during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Price Performance

Shares of NYSE:BMO opened at $130.58 on Monday. The company’s fifty day moving average price is $119.33 and its 200 day moving average price is $108.03. Bank Of Montreal has a 12 month low of $85.40 and a 12 month high of $131.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $93.35 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.33 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same period last year, the business earned $2.64 EPS. Bank Of Montreal’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.0%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is 58.63%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Barclays lowered shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday, June 9th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. Finally, National Bankshares restated an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.00.

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.