Value Partners Investments Inc. Cuts Holdings in Bank Of Montreal $BMO

Value Partners Investments Inc. reduced its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 465,338 shares of the bank’s stock after selling 45,983 shares during the period. Bank Of Montreal accounts for about 4.6% of Value Partners Investments Inc.’s investment portfolio, making the stock its 7th biggest holding. Value Partners Investments Inc. owned about 0.07% of Bank Of Montreal worth $60,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after purchasing an additional 2,673 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Bank Of Montreal by 3.5% during the 2nd quarter. Wealthspire Advisors LLC now owns 6,446 shares of the bank’s stock worth $713,000 after buying an additional 216 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Bank Of Montreal by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,096,926 shares of the bank’s stock worth $453,243,000 after buying an additional 158,442 shares during the last quarter. MAI Capital Management increased its position in Bank Of Montreal by 7.0% in the second quarter. MAI Capital Management now owns 3,790 shares of the bank’s stock worth $419,000 after buying an additional 248 shares during the period. Finally, Legal & General Group Plc increased its position in Bank Of Montreal by 0.4% in the second quarter. Legal & General Group Plc now owns 4,348,743 shares of the bank’s stock worth $480,988,000 after buying an additional 16,538 shares during the period. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Price Performance

Shares of BMO opened at $133.85 on Friday. Bank Of Montreal has a one year low of $85.40 and a one year high of $149.01. The stock’s fifty day moving average is $140.27 and its 200-day moving average is $131.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $94.53 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 earnings per share. Equities analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s payout ratio is 56.56%.

Wall Street Analysts Forecast Growth

BMO has been the subject of several analyst reports. Barclays downgraded shares of Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Zacks Research raised shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

About Bank Of Montreal

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.