Zions Bancorporation National Association UT Lowers Stake in Bank Of Montreal $BMO

Zions Bancorporation National Association UT lowered its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 44.3% during the 4th quarter, HoldingsChannel reports. The fund owned 32,281 shares of the bank’s stock after selling 25,695 shares during the period. Zions Bancorporation National Association UT’s holdings in Bank Of Montreal were worth $4,190,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Bank Of Montreal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after acquiring an additional 673,248 shares in the last quarter. Canerector Inc. boosted its stake in Bank Of Montreal by 18,035.0% during the third quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after acquiring an additional 22,543,750 shares in the last quarter. TD Asset Management Inc boosted its stake in Bank Of Montreal by 1.5% during the fourth quarter. TD Asset Management Inc now owns 19,372,601 shares of the bank’s stock worth $2,519,180,000 after acquiring an additional 293,575 shares in the last quarter. Norges Bank bought a new stake in Bank Of Montreal during the fourth quarter worth about $1,059,320,000. Finally, Geode Capital Management LLC boosted its stake in Bank Of Montreal by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,030,219 shares of the bank’s stock worth $932,242,000 after acquiring an additional 442,812 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 0.4%

Shares of Bank Of Montreal stock opened at $164.55 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $115.25 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95. Bank Of Montreal has a 52-week low of $104.08 and a 52-week high of $167.07. The company has a 50-day simple moving average of $152.83 and a two-hundred day simple moving average of $141.59.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.62 earnings per share. On average, analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, July 30th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.2%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio is presently 50.96%.

Analysts Set New Price Targets

BMO has been the topic of several research reports. Zacks Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $163.00.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.