Candriam S.C.A. Sells 30,412 Shares of Bank Of Montreal $BMO

Candriam S.C.A. lessened its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 14.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 178,726 shares of the bank’s stock after selling 30,412 shares during the period. Candriam S.C.A.’s holdings in Bank Of Montreal were worth $30,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ethic Inc. increased its stake in shares of Bank Of Montreal by 10.7% in the third quarter. Ethic Inc. now owns 30,199 shares of the bank’s stock worth $5,051,000 after purchasing an additional 2,918 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Bank Of Montreal by 15.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 418,389 shares of the bank’s stock worth $70,128,000 after purchasing an additional 55,318 shares during the last quarter. Leelyn Smith LLC bought a new stake in Bank Of Montreal during the 3rd quarter valued at approximately $206,000. CenterBook Partners LP bought a new stake in Bank Of Montreal during the 3rd quarter valued at approximately $916,000. Finally, Kestra Advisory Services LLC boosted its stake in Bank Of Montreal by 3.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 20,383 shares of the bank’s stock valued at $3,409,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $170.94 on Monday. The firm’s 50-day moving average is $170.43 and its 200-day moving average is $160.84. Bank Of Montreal has a 52-week low of $119.84 and a 52-week high of $187.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $118.24 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 0.92 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the business earned $3.23 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Bank Of Montreal will post 10.65 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be paid a dividend of C$1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s payout ratio is currently 54.18%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BMO shares. Keefe, Bruyette & Woods started coverage on Bank Of Montreal in a report on Friday, August 21st. They issued an “outperform” rating on the stock. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, October 14th. TD Securities reiterated a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $244.00.

About Bank Of Montreal

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services.

BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.

Founded in Montreal in 1817, BMO is one of Canada’s oldest banks.