Addenda Capital Inc. Has $74.25 Million Stock Position in Bank Of Montreal $BMO

Addenda Capital Inc. lessened its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 671,184 shares of the bank’s stock after selling 21,783 shares during the period. Bank Of Montreal accounts for 3.3% of Addenda Capital Inc.’s portfolio, making the stock its 7th biggest holding. Addenda Capital Inc. owned about 0.09% of Bank Of Montreal worth $74,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Oppenheimer & Co. Inc. raised its position in shares of Bank Of Montreal by 2.6% in the first quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank’s stock valued at $451,000 after purchasing an additional 120 shares during the period. Wealth Alliance LLC boosted its stake in shares of Bank Of Montreal by 1.8% in the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock valued at $778,000 after purchasing an additional 142 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Bank Of Montreal by 0.7% in the second quarter. TD Private Client Wealth LLC now owns 23,986 shares of the bank’s stock valued at $2,654,000 after buying an additional 169 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Bank Of Montreal by 228.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Bank Of Montreal by 5.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,797 shares of the bank’s stock worth $363,000 after purchasing an additional 196 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Finally, UBS Group reissued a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $168.00.

Bank Of Montreal Trading Up 0.9%

Shares of BMO stock opened at $130.58 on Friday. The company has a market cap of $93.35 billion, a P/E ratio of 15.98, a PEG ratio of 1.34 and a beta of 1.04. The stock has a 50 day simple moving average of $119.33 and a two-hundred day simple moving average of $107.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.26.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.64 earnings per share. Research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $1.63 dividend. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. Bank Of Montreal’s dividend payout ratio is presently 58.02%.

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.