Guardian Partners Inc. Lowers Stake in Bank Of Montreal $BMO

Guardian Partners Inc. cut its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,162 shares of the bank’s stock after selling 3,762 shares during the period. Bank Of Montreal accounts for 4.2% of Guardian Partners Inc.’s portfolio, making the stock its 3rd largest holding. Guardian Partners Inc.’s holdings in Bank Of Montreal were worth $49,855,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Bank Of Montreal in the 4th quarter worth $29,000. Larson Financial Group LLC grew its holdings in Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares during the period. WFA of San Diego LLC bought a new stake in Bank Of Montreal during the second quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in Bank Of Montreal in the fourth quarter worth about $34,000. Finally, Swiss RE Ltd. purchased a new stake in Bank Of Montreal in the fourth quarter worth about $38,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 1.2%

NYSE BMO opened at $180.65 on Wednesday. The stock’s 50 day moving average is $171.55 and its 200 day moving average is $152.82. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 12 month low of $109.64 and a 12 month high of $184.21. The stock has a market cap of $126.53 billion, a PE ratio of 19.18, a P/E/G ratio of 1.00 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data 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 business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.62 EPS. Research analysts predict that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be given a dividend of $1.71 per share. 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 dividend yield of 3.8%. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 50.96%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BMO shares. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Zacks Research downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Company 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.