Beverly Hills Private Wealth LLC Lowers Holdings in Bank Of Montreal $BMO

Beverly Hills Private Wealth LLC trimmed its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,636 shares of the bank’s stock after selling 241 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Bank Of Montreal were worth $402,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after buying an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of Bank Of Montreal in the 2nd quarter worth $39,000. Bayforest Capital Ltd purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth $34,000. Truvestments Capital LLC purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Bank Of Montreal in the 1st quarter worth $42,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 0.7%

Shares of NYSE:BMO opened at $125.74 on Tuesday. The business’s 50-day moving average is $124.10 and its 200 day moving average is $111.52. 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 $89.89 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.27 and a beta of 1.03. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data 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 business had revenue of $6.51 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.64 earnings per share. On average, research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a $1.63 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio is currently 58.63%.

Analyst Ratings Changes

Several research analysts have recently commented on BMO shares. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank Of Montreal in a research report on Wednesday, October 8th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $168.00 to $163.00 in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

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.