Silverlake Wealth Management LLC Increases Stock Position in Bank of Montreal (NYSE:BMO)

Silverlake Wealth Management LLC increased its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,022 shares of the bank’s stock after purchasing an additional 580 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Bank of Montreal were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in Bank of Montreal by 6.9% during the 4th quarter. Fifth Third Bancorp now owns 2,599 shares of the bank’s stock valued at $257,000 after buying an additional 168 shares during the period. Pinnacle Associates Ltd. raised its position in Bank of Montreal by 36.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 20,500 shares of the bank’s stock valued at $2,028,000 after acquiring an additional 5,500 shares in the last quarter. Gradient Investments LLC raised its position in Bank of Montreal by 20.6% during the fourth quarter. Gradient Investments LLC now owns 6,161 shares of the bank’s stock valued at $610,000 after acquiring an additional 1,051 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Bank of Montreal by 177.4% in the fourth quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock valued at $50,000 after purchasing an additional 337 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $77,000. 45.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BMO shares. National Bank Financial raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Jefferies Financial Group started coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Barclays assumed coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating on the stock. Finally, Bank of America upgraded shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

Bank of Montreal Stock Down 0.3 %

Shares of NYSE:BMO traded down $0.34 during midday trading on Monday, hitting $97.34. The stock had a trading volume of 115,344 shares, compared to its average volume of 677,224. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $94.08 and its 200-day simple moving average is $88.87. The company has a market cap of $70.98 billion, a P/E ratio of 18.65, a PEG ratio of 1.87 and a beta of 1.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $6.34 billion. On average, sell-side analysts forecast that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be paid a $1.1172 dividend. This represents a $4.47 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, April 26th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s payout ratio is 62.02%.

About Bank of Montreal

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.