Forsta AP Fonden Lowers Stake in Bank Of Montreal $BMO

Forsta AP Fonden reduced its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.8% during the 4th quarter, HoldingsChannel reports. The firm owned 180,600 shares of the bank’s stock after selling 34,000 shares during the period. Forsta AP Fonden’s holdings in Bank Of Montreal were worth $23,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WFA of San Diego LLC purchased a new position in Bank Of Montreal during the 2nd quarter worth $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Bank Of Montreal during the 4th quarter worth $29,000. Larson Financial Group LLC grew its position in Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Bank Of Montreal during the 4th quarter worth $34,000. Finally, Sunbelt Securities Inc. purchased a new position in Bank Of Montreal during the 3rd quarter worth $42,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Up 0.1%

Shares of NYSE BMO opened at $162.07 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52 week low of $104.08 and a 52 week high of $163.75. The firm has a 50-day moving average price of $148.07 and a 200 day moving average price of $139.17. The stock has a market capitalization of $113.51 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same quarter last year, the business earned $2.62 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be given a dividend of $1.71 per share. The ex-dividend date is Thursday, July 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 50.96%.

Analyst Ratings Changes

Several brokerages have issued reports on BMO. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Weiss Ratings upgraded shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $163.00.

About Bank Of Montreal

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.