Curbstone Financial Management Corp trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,800 shares of the bank’s stock after selling 300 shares during the quarter. Curbstone Financial Management Corp’s holdings in Bank of Montreal were worth $1,319,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Bank of Montreal during the fourth quarter worth $26,000. Reby Advisors LLC acquired a new position in Bank of Montreal during the fourth quarter worth $30,000. Perigon Wealth Management LLC acquired a new position in Bank of Montreal during the fourth quarter worth $41,000. JJJ Advisors Inc. increased its position in Bank of Montreal by 1,008.4% during the fourth quarter. JJJ Advisors Inc. now owns 920 shares of the bank’s stock worth $70,000 after buying an additional 837 shares during the last quarter. Finally, Graves Light Private Wealth Management Inc. acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at about $76,000. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

BMO has been the topic of several research analyst reports. Credit Suisse Group raised Bank of Montreal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $97.00 to $108.00 in a research report on Tuesday, March 2nd. Bank of America raised Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Monday, March 8th. Barclays raised their price target on Bank of Montreal from $88.00 to $96.00 and gave the company an “underweight” rating in a research report on Tuesday, February 16th. Canaccord Genuity raised their price target on Bank of Montreal from $106.50 to $112.50 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Finally, BMO Capital Markets upgraded shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $98.44.

Shares of NYSE BMO traded down $0.07 during mid-day trading on Thursday, hitting $90.19. The company had a trading volume of 24,971 shares, compared to its average volume of 743,592. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day simple moving average is $86.26 and its 200-day simple moving average is $74.31. Bank of Montreal has a 12 month low of $43.26 and a 12 month high of $90.91. The firm has a market cap of $58.36 billion, a P/E ratio of 16.03, a PEG ratio of 1.51 and a beta of 1.29.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Monday, February 22nd. The bank reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $1.40. The firm had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Bank of Montreal had a net margin of 14.82% and a return on equity of 10.69%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 earnings per share. As a group, sell-side analysts predict that Bank of Montreal will post 6.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 26th. Shareholders of record on Monday, May 3rd will be paid a dividend of $0.8402 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, April 30th. This represents a $3.36 dividend on an annualized basis and a yield of 3.73%. Bank of Montreal’s dividend payout ratio (DPR) is currently 58.12%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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

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