NorthRock Partners LLC Has $1.97 Million Position in Bank Of Montreal $BMO

NorthRock Partners LLC lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,776 shares of the bank’s stock after selling 377 shares during the period. NorthRock Partners LLC’s holdings in Bank Of Montreal were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BMO. Ascent Group LLC boosted its position in Bank Of Montreal by 3.5% during the second quarter. Ascent Group LLC now owns 2,756 shares of the bank’s stock worth $305,000 after purchasing an additional 92 shares during the period. Oppenheimer & Co. Inc. boosted its position in Bank Of Montreal by 2.6% during the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank’s stock worth $451,000 after purchasing an additional 120 shares during the period. Wealth Alliance LLC boosted its position in shares of Bank Of Montreal by 1.8% in the first quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock valued at $778,000 after acquiring an additional 142 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Bank Of Montreal by 0.7% in the second quarter. TD Private Client Wealth LLC now owns 23,986 shares of the bank’s stock worth $2,654,000 after acquiring an additional 169 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 0.6%

Shares of BMO stock opened at $125.60 on Monday. The stock has a market cap of $89.79 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.03. Bank Of Montreal has a one year low of $85.40 and a one year high of $131.36. The stock has a fifty day moving average price of $122.43 and a 200 day moving average price of $110.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick 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 EPS for the quarter, topping the consensus estimate of $2.12 by $0.21. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.Bank Of Montreal’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $2.64 earnings per share. Analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 5.2%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 58.63%.

Analyst Ratings Changes

BMO has been the topic of several research analyst reports. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Wall Street Zen downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Cowen restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.