Bessemer Group Inc. Sells 12,980 Shares of Bank Of Montreal $BMO

Bessemer Group Inc. lowered its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 22.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,568 shares of the bank’s stock after selling 12,980 shares during the quarter. Bessemer Group Inc.’s holdings in Bank Of Montreal were worth $5,931,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Bank Of Montreal in the 2nd quarter valued at about $1,184,220,000. Public Sector Pension Investment Board increased its holdings in shares of Bank Of Montreal by 2,986.1% during the second quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock valued at $240,009,000 after acquiring an additional 2,099,800 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Bank Of Montreal by 3.9% during the second quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock valued at $3,567,773,000 after acquiring an additional 1,196,237 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Bank Of Montreal by 17.3% during the third quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after purchasing an additional 1,070,546 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Bank Of Montreal by 19.2% in the 2nd quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock worth $655,674,000 after purchasing an additional 939,156 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $141.56 on Friday. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $142.73. The company’s 50 day moving average price is $132.92 and its two-hundred day moving average price is $126.10. The stock has a market cap of $100.16 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.17 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.Bank Of Montreal’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. On average, equities analysts predict that Bank Of Montreal will post 7.71 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 Thursday, February 26th. Stockholders of record on Friday, January 30th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James Financial initiated coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They set a “market perform” rating for the company. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Natl Bk Canada lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank Of Montreal has an average rating of “Hold” and a consensus price target of $163.00.

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.