Public Sector Pension Investment Board Sells 1,806,240 Shares of Bank Of Montreal $BMO

Public Sector Pension Investment Board decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 83.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,878 shares of the bank’s stock after selling 1,806,240 shares during the period. Public Sector Pension Investment Board owned approximately 0.05% of Bank Of Montreal worth $47,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc grew its stake in shares of Bank Of Montreal by 3.9% in the third quarter. Atria Investments Inc now owns 17,223 shares of the bank’s stock valued at $2,243,000 after acquiring an additional 641 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in Bank Of Montreal by 8.7% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 149,129 shares of the bank’s stock valued at $19,437,000 after purchasing an additional 11,900 shares during the period. Caprock Group LLC acquired a new position in shares of Bank Of Montreal during the 3rd quarter worth approximately $577,000. Madison Asset Management LLC bought a new position in shares of Bank Of Montreal during the third quarter worth approximately $222,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Bank Of Montreal in the third quarter valued at approximately $321,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMO. Raymond James Financial started coverage on Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Natl Bk Canada cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Finally, TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank Of Montreal currently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Trading Down 2.4%

Shares of BMO opened at $140.23 on Friday. 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 has a 52-week low of $85.40 and a 52-week high of $146.35. The firm has a market cap of $99.22 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.17 and a beta of 0.94. The business’s fifty day moving average is $134.34 and its 200-day moving average is $126.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm posted $1.90 earnings per share. Bank Of Montreal’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be issued a dividend of $1.67 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, January 30th. This represents a $6.68 annualized dividend and a dividend yield of 4.8%. Bank Of Montreal’s payout ratio is presently 59.68%.

Bank Of Montreal Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.