Mn Services Vermogensbeheer B.V. Lowers Holdings in Bank of Montreal (NYSE:BMO)

Mn Services Vermogensbeheer B.V. decreased its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,100 shares of the bank’s stock after selling 11,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Bank of Montreal were worth $14,011,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BMO. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal during the 2nd quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in Bank of Montreal during the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. raised its stake in Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Bank of Montreal by 34.6% during the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after buying an additional 160 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMO. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Barclays reduced their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Stock Down 0.8 %

NYSE BMO opened at $90.06 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $89.02 and a two-hundred day moving average of $88.04. The firm has a market capitalization of $65.70 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.51 and a beta of 1.10. Bank of Montreal has a 52 week low of $76.83 and a 52 week high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, analysts predict that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 72.13%.

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.