Bank Of Montreal $BMO Stock Sold by Value Partners Investments Inc.

Value Partners Investments Inc. cut its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 17.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 196,965 shares of the bank’s stock after selling 42,677 shares during the quarter. Bank Of Montreal comprises 2.2% of Value Partners Investments Inc.’s holdings, making the stock its 21st biggest position. Value Partners Investments Inc.’s holdings in Bank Of Montreal were worth $33,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gold Investment Management Ltd. boosted its position in shares of Bank Of Montreal by 0.7% in the 3rd quarter. Gold Investment Management Ltd. now owns 23,422 shares of the bank’s stock valued at $3,916,000 after purchasing an additional 162 shares during the period. Vontobel Holding Ltd. raised its stake in Bank Of Montreal by 0.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 106,311 shares of the bank’s stock valued at $17,778,000 after purchasing an additional 492 shares during the period. TD Waterhouse Canada Inc. raised its stake in Bank Of Montreal by 0.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 6,371,237 shares of the bank’s stock valued at $1,057,374,000 after purchasing an additional 20,334 shares during the period. Financial & Tax Architects LLC acquired a new stake in shares of Bank Of Montreal in the third quarter worth $594,000. Finally, Saxony Capital Management LLC lifted its stake in Bank Of Montreal by 20.8% in the 3rd quarter. Saxony Capital Management LLC now owns 2,386 shares of the bank’s stock worth $399,000 after acquiring an additional 411 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Stock Performance

BMO traded down $0.95 during trading on Monday, reaching $166.12. 248,338 shares of the company’s stock were exchanged, compared to its average volume of 786,354. The company has a market capitalization of $115.46 billion, a P/E ratio of 18.75, a PEG ratio of 1.00 and a beta of 0.95. The business has a 50 day moving average price of $172.15 and a 200 day moving average price of $166.94. Bank Of Montreal has a fifty-two week low of $119.84 and a fifty-two week high of $187.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. As a group, analysts predict that Bank Of Montreal will post 10.65 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a C$1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio is currently 54.29%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BMO shares. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 26th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research note on Friday, August 21st. Weiss Ratings lowered shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bank Of Montreal currently has an average rating of “Hold” and a consensus target price of $244.00.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.