Crescent Grove Advisors LLC Lowers Holdings in Bank of Montreal (NYSE:BMO)

Crescent Grove Advisors LLC cut its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 7,849 shares of the bank’s stock after selling 805 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Bank of Montreal were worth $777,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. bought a new stake in Bank of Montreal in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in Bank of Montreal by 192.1% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after acquiring an additional 219 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Bank of Montreal in the 3rd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of Montreal in the 3rd quarter worth $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Bank of Montreal in the 1st quarter worth $36,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock traded down $1.85 on Tuesday, hitting $90.90. The stock had a trading volume of 119,105 shares, compared to its average volume of 671,882. The stock has a market cap of $66.29 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.78 and a beta of 1.13. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company’s 50 day moving average price is $94.28 and its 200 day moving average price is $89.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly 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). The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $6.34 billion. Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. On average, research analysts anticipate that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be paid a dividend of $1.1172 per share. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Friday, April 26th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s payout ratio is currently 62.02%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMO. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Barclays initiated coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Jefferies Financial Group initiated coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Bank of America raised Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.00.

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.