Bank Of Montreal $BMO is Letko Brosseau & Associates Inc.’s 7th Largest Position

Letko Brosseau & Associates Inc. reduced its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,674,225 shares of the bank’s stock after selling 100,644 shares during the quarter. Bank Of Montreal accounts for about 3.6% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 7th largest holding. Letko Brosseau & Associates Inc.’s holdings in Bank Of Montreal were worth $217,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Code Waechter LLC boosted its stake in shares of Bank Of Montreal by 1.7% during the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after buying an additional 75 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Bank Of Montreal by 33.2% during the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after buying an additional 79 shares during the last quarter. Naples Global Advisors LLC boosted its stake in shares of Bank Of Montreal by 0.5% during the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after buying an additional 80 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Bank Of Montreal by 4.6% during the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after buying an additional 94 shares during the last quarter. Finally, Choreo LLC boosted its stake in shares of Bank Of Montreal by 3.6% during the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after buying an additional 95 shares during the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Performance

BMO stock opened at $165.25 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $115.74 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.92 and a beta of 0.95. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $167.07. The stock’s fifty day moving average is $152.17 and its two-hundred day moving average is $141.27.

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

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be paid a $1.71 dividend. The ex-dividend date is Thursday, July 30th. This is a positive change 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 4.1%. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Wall Street Analyst Weigh In

BMO has been the subject of several research analyst reports. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.