Ignite Planners LLC Lowers Stake in Bank Of Montreal $BMO

Ignite Planners LLC decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 47.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,109 shares of the bank’s stock after selling 4,526 shares during the period. Ignite Planners LLC’s holdings in Bank Of Montreal were worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BMO. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal during the second quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Bank Of Montreal during the fourth quarter valued at approximately $34,000. Sunbelt Securities Inc. purchased a new position in shares of Bank Of Montreal during the third quarter valued at approximately $42,000. Finally, Bayforest Capital Ltd increased its stake in Bank Of Montreal by 669.6% in the fourth quarter. Bayforest Capital Ltd now owns 354 shares of the bank’s stock valued at $46,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $161.10 on Friday. The firm has a market capitalization of $112.91 billion, a P/E ratio of 18.71, a PEG ratio of 0.90 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $145.72 and a 200 day moving average price of $137.81. Bank Of Montreal has a 52 week low of $102.70 and a 52 week high of $161.55.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company had revenue of $7.21 billion during the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the firm posted $3.04 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that Bank Of Montreal will post 11.56 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio (DPR) is 55.75%.

Analyst Upgrades and Downgrades

BMO has been the subject of several analyst reports. Zacks Research lowered Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank Of Montreal in a research note on Friday, April 17th. Barclays lowered Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 20th. National Bank Financial reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.