Bank of New York Mellon Corp Sells 17,527 Shares of Bank Of Montreal $BMO

Bank of New York Mellon Corp cut its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 738,973 shares of the bank’s stock after selling 17,527 shares during the period. Bank of New York Mellon Corp’s holdings in Bank Of Montreal were worth $95,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Citigroup Inc. lifted its holdings in Bank Of Montreal by 36.6% in the third quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock valued at $65,479,000 after buying an additional 134,699 shares during the period. Jefferies Financial Group Inc. raised its stake 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 buying an additional 472,000 shares during the period. Vanguard Group Inc. increased its stake in Bank Of Montreal by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock worth $4,214,676,000 after purchasing an additional 149,944 shares in the last quarter. Aviso Financial Inc. increased its position in shares of Bank Of Montreal by 24.2% during the third quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank’s stock worth $130,601,000 after acquiring an additional 195,154 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Bank Of Montreal by 2,553.4% in the 3rd quarter. Candriam S.C.A. now owns 180,563 shares of the bank’s stock valued at $23,534,000 after purchasing an additional 173,758 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Scotiabank upgraded shares of Bank Of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, June 1st. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

Shares of BMO stock opened at $164.64 on Tuesday. Bank Of Montreal has a 12 month low of $104.08 and a 12 month high of $166.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $115.32 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 0.92 and a beta of 0.95. The business’s 50-day moving average price is $151.50 and its 200-day moving average price is $140.97.

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

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend 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 (DPR) 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.