Orion Portfolio Solutions LLC Grows Stake in Bank of Montreal (NYSE:BMO)

Orion Portfolio Solutions LLC raised its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 77.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,443 shares of the bank’s stock after purchasing an additional 3,672 shares during the period. Orion Portfolio Solutions LLC’s holdings in Bank of Montreal were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after buying an additional 201 shares during the period. Addison Advisors LLC raised its stake in shares of Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after acquiring an additional 246 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Bank of Montreal in the 4th quarter worth about $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Montreal during the 3rd quarter worth about $45,000. Finally, First Horizon Advisors Inc. grew its holdings in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after purchasing an additional 358 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at $89.27 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $98.79 and its 200-day moving average price is $96.28. The firm has a market cap of $64.90 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.43 and a beta of 0.95. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter last year, the firm posted $2.56 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts expect that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio (DPR) is 57.09%.

Analyst Ratings Changes

Several analysts have issued reports on BMO shares. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Royal Bank of Canada raised their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, CIBC downgraded Bank of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and a consensus price target of $128.40.

Bank of Montreal Profile

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.