Bank of Montreal (NYSE:BMO) Holdings Increased by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,750 shares of the bank’s stock after acquiring an additional 3,489 shares during the period. Bank of Montreal accounts for about 3.3% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 4th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Bank of Montreal were worth $18,386,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Bank of Montreal by 1.8% during the third quarter. Vanguard Group Inc. now owns 27,191,193 shares of the bank’s stock valued at $2,294,121,000 after acquiring an additional 468,761 shares in the last quarter. Bank of Nova Scotia increased its stake in Bank of Montreal by 10.6% during the 3rd quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank’s stock valued at $1,247,154,000 after purchasing an additional 1,417,298 shares in the last quarter. Toronto Dominion Bank raised its holdings in Bank of Montreal by 5.1% in the third quarter. Toronto Dominion Bank now owns 14,042,593 shares of the bank’s stock worth $1,184,774,000 after buying an additional 679,340 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Bank of Montreal by 0.5% in the third quarter. Mackenzie Financial Corp now owns 13,757,010 shares of the bank’s stock worth $1,102,086,000 after buying an additional 69,009 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Bank of Montreal by 14.1% in the fourth quarter. 1832 Asset Management L.P. now owns 9,544,892 shares of the bank’s stock worth $864,767,000 after buying an additional 1,179,546 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of BMO traded up $1.74 during trading hours on Thursday, hitting $98.64. The stock had a trading volume of 108,888 shares, compared to its average volume of 671,054. The firm has a market capitalization of $71.93 billion, a PE ratio of 18.49, a PEG ratio of 1.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The stock has a fifty day moving average price of $94.15 and a 200 day moving average price of $89.05.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. Analysts anticipate that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a dividend of $1.1172 per share. This represents a $4.47 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, April 26th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is currently 62.02%.

Analysts Set New Price Targets

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

Bank of Montreal Company 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.