Janney Montgomery Scott LLC Reduces Position in Bank Of Montreal $BMO

Janney Montgomery Scott LLC lowered its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 14.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,862 shares of the bank’s stock after selling 2,923 shares during the period. Janney Montgomery Scott LLC’s holdings in Bank Of Montreal were worth $2,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BMO. Jefferies Financial Group Inc. lifted its position in Bank Of Montreal by 6,300.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 479,492 shares of the bank’s stock worth $62,233,000 after acquiring an additional 472,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Bank Of Montreal by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock valued at $4,287,878,000 after purchasing an additional 673,248 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Bank Of Montreal by 16.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 165,213 shares of the bank’s stock worth $21,484,000 after purchasing an additional 23,113 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bank Of Montreal by 2,127.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 349,694 shares of the bank’s stock worth $45,387,000 after purchasing an additional 333,994 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of Bank Of Montreal by 17.0% during the third quarter. Swiss Life Asset Management Ltd now owns 99,874 shares of the bank’s stock worth $13,032,000 after purchasing an additional 14,494 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of recent research reports. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Five equities 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Down 2.1%

BMO stock opened at $174.49 on Thursday. The firm has a market cap of $122.21 billion, a PE ratio of 18.52, a P/E/G ratio of 1.00 and a beta of 0.93. 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 firm’s fifty day moving average is $163.93 and its 200 day moving average is $148.05. Bank Of Montreal has a one year low of $109.64 and a one year high of $179.33.

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

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, July 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.67. Bank Of Montreal’s payout ratio is currently 50.96%.

Bank Of Montreal Company Profile

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.