NBC Securities Inc. Sells 1,534 Shares of Bank of Montreal (NYSE:BMO)

NBC Securities Inc. cut its position in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,613 shares of the bank’s stock after selling 1,534 shares during the period. NBC Securities Inc.’s holdings in Bank of Montreal were worth $555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMO. Schechter Investment Advisors LLC lifted its position in Bank of Montreal by 3.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock valued at $313,000 after acquiring an additional 116 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Bank of Montreal by 1.9% during the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock worth $655,000 after buying an additional 126 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Bank of Montreal by 4.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 3,177 shares of the bank’s stock valued at $268,000 after buying an additional 141 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Bank of Montreal by 5.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 2,713 shares of the bank’s stock valued at $229,000 after acquiring an additional 143 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Bank of Montreal by 3.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,547 shares of the bank’s stock worth $450,000 after acquiring an additional 167 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BMO. Barclays initiated coverage on shares of Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating on the stock. Jefferies Financial Group started coverage on shares of Bank of Montreal in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.00.

Read Our Latest Research Report on BMO

Bank of Montreal Stock Performance

NYSE BMO opened at $94.11 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm has a market cap of $68.63 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14. The company’s 50 day moving average is $93.91 and its 200-day moving average is $91.14.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last announced its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. Sell-side analysts predict that Bank of Montreal will post 8.86 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a dividend of $1.1172 per share. This represents a $4.47 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Friday, April 26th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s payout ratio is currently 85.31%.

Bank of Montreal Company Profile

(Free Report)

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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