D.A. Davidson & CO. Has $819,000 Stock Holdings in Bank of Montreal (NYSE:BMO)

D.A. Davidson & CO. trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,442 shares of the bank’s stock after selling 160 shares during the quarter. D.A. Davidson & CO.’s holdings in Bank of Montreal were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Bank of Montreal in the 4th quarter valued at about $346,000. Pathway Financial Advisers LLC raised its stake in Bank of Montreal by 2,701.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock worth $2,747,000 after buying an additional 29,367 shares during the period. Five Oceans Advisors acquired a new position in Bank of Montreal during the 4th quarter worth approximately $327,000. Wellington Management Group LLP raised its stake in Bank of Montreal by 80.0% during the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock worth $11,344,000 after buying an additional 55,823 shares during the period. Finally, Intact Investment Management Inc. raised its stake in Bank of Montreal by 72.9% during the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock worth $53,082,000 after buying an additional 248,098 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of $128.00.

Bank of Montreal Stock Performance

BMO stock opened at $99.80 on Tuesday. The firm has a market cap of $72.74 billion, a PE ratio of 14.30, a P/E/G ratio of 1.43 and a beta of 1.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $98.67 and a 200-day moving average of $93.52. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.54%. Bank of Montreal’s dividend payout ratio is currently 63.32%.

About Bank of Montreal

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.