Ritholtz Wealth Management Sells 1,263 Shares of Bank Of Montreal $BMO

Ritholtz Wealth Management cut its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,860 shares of the bank’s stock after selling 1,263 shares during the quarter. Ritholtz Wealth Management’s holdings in Bank Of Montreal were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bayforest Capital Ltd lifted its stake in shares of Bank Of Montreal by 104.7% in the 2nd quarter. Bayforest Capital Ltd now owns 735 shares of the bank’s stock valued at $81,000 after acquiring an additional 376 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at about $217,000. Sequoia Financial Advisors LLC lifted its stake in shares of Bank Of Montreal by 12.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,272 shares of the bank’s stock valued at $473,000 after acquiring an additional 475 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Bank Of Montreal by 7.4% in the 2nd quarter. Yousif Capital Management LLC now owns 10,301 shares of the bank’s stock valued at $1,140,000 after acquiring an additional 710 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC bought a new stake in shares of Bank Of Montreal in the 2nd quarter valued at about $230,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Trading Up 0.2%

BMO opened at $124.96 on Friday. The business has a 50 day simple moving average of $123.84 and a two-hundred day simple moving average of $111.07. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.27 and a beta of 1.03. 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 has a one year low of $85.40 and a one year high of $131.36.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $8.84 billion. During the same quarter in the prior year, the business earned $2.64 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts predict that Bank Of Montreal will post 7.71 EPS 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. Shareholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 58.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.