IAG Wealth Partners LLC Acquires 268 Shares of Bank of Montreal (NYSE:BMO)

IAG Wealth Partners LLC raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 117.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 496 shares of the bank’s stock after purchasing an additional 268 shares during the period. IAG Wealth Partners LLC’s holdings in Bank of Montreal were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in BMO. Schechter Investment Advisors LLC lifted its position in Bank of Montreal by 3.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after buying an additional 116 shares in the last quarter. Pacer Advisors Inc. lifted its position in Bank of Montreal by 1.9% during the 4th quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock worth $655,000 after buying an additional 126 shares in the last quarter. Brighton Jones LLC lifted its position in Bank of Montreal by 4.1% during the 3rd quarter. Brighton Jones LLC now owns 3,527 shares of the bank’s stock worth $298,000 after buying an additional 140 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Bank of Montreal by 4.6% during the 3rd quarter. Checchi Capital Advisers LLC now owns 3,177 shares of the bank’s stock valued at $268,000 after purchasing an additional 141 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in Bank of Montreal by 5.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 2,713 shares of the bank’s stock valued at $229,000 after purchasing an additional 143 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Down 0.8 %

Shares of BMO stock traded down $0.70 on Friday, reaching $90.91. The company had a trading volume of 3,961,611 shares, compared to its average volume of 705,343. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock has a market cap of $66.30 billion, a PE ratio of 17.35, a PEG ratio of 1.78 and a beta of 1.13. The company has a 50-day moving average of $94.16 and a 200-day moving average of $90.16. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12.

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

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be paid a dividend of $1.1172 per share. This represents a $4.47 dividend on an annualized basis and a yield of 4.92%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, April 26th. Bank of Montreal’s dividend payout ratio is presently 62.02%.

Analysts Set New Price Targets

A number of research firms have issued reports on BMO. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Barclays began coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Bank of Montreal in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.