KPP Advisory Services LLC Purchases Shares of 2,487 Bank of Montreal (NYSE:BMO)

KPP Advisory Services LLC bought a new position in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,487 shares of the bank’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Bank of Montreal in the fourth quarter worth $33,000. Cullen Frost Bankers Inc. grew its position in Bank of Montreal by 3,375.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after acquiring an additional 405 shares during the last quarter. Headlands Technologies LLC bought a new position in Bank of Montreal in the fourth quarter valued at about $44,000. EverSource Wealth Advisors LLC grew its position in Bank of Montreal by 39.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after acquiring an additional 130 shares during the last quarter. Finally, IAG Wealth Partners LLC grew its position in Bank of Montreal by 117.5% in the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock valued at $49,000 after acquiring an additional 268 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Down 0.4 %

BMO traded down $0.35 during trading on Monday, hitting $84.61. The company’s stock had a trading volume of 129,837 shares, compared to its average volume of 768,706. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $92.76 and its 200-day moving average price is $93.01. The firm has a market capitalization of $61.70 billion, a P/E ratio of 14.11, a PEG ratio of 2.24 and a beta of 1.12.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be paid a $1.125 dividend. The ex-dividend date is Tuesday, July 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a yield of 5.32%. Bank of Montreal’s payout ratio is 74.25%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMO. Keefe, Bruyette & Woods cut Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $137.00 to $124.00 in a research report on Monday, June 3rd. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Jefferies Financial Group initiated coverage on Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Barclays initiated coverage on Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Check Out Our Latest Stock Report on Bank of Montreal

About Bank of Montreal

(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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