Naples Global Advisors LLC Sells 120 Shares of Bank Of Montreal $BMO

Naples Global Advisors LLC lowered its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,845 shares of the bank’s stock after selling 120 shares during the period. Naples Global Advisors LLC’s holdings in Bank Of Montreal were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Bank Of Montreal by 1.6% during the first quarter. Vanguard Group Inc. now owns 30,997,776 shares of the bank’s stock worth $2,960,102,000 after purchasing an additional 503,027 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Bank Of Montreal by 213.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank’s stock worth $406,825,000 after purchasing an additional 2,899,061 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bank Of Montreal by 8.3% during the first quarter. JPMorgan Chase & Co. now owns 3,938,484 shares of the bank’s stock worth $376,165,000 after purchasing an additional 303,496 shares during the period. Fiera Capital Corp increased its stake in shares of Bank Of Montreal by 4.4% during the first quarter. Fiera Capital Corp now owns 3,864,901 shares of the bank’s stock worth $369,445,000 after purchasing an additional 163,087 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock worth $351,154,000 after purchasing an additional 1,469,084 shares during the period. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada raised their price objective on Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Finally, CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.00.

Bank Of Montreal Trading Down 0.2%

Shares of BMO stock opened at $130.22 on Friday. The stock’s fifty day moving average price is $120.58 and its two-hundred day moving average price is $108.79. The company has a market cap of $93.09 billion, a PE ratio of 15.94, a P/E/G ratio of 1.33 and a beta of 1.03. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00.

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

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s dividend payout ratio (DPR) is 58.63%.

About Bank Of Montreal

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.