Crossmark Global Holdings Inc. increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,832 shares of the bank’s stock after purchasing an additional 516 shares during the period. Crossmark Global Holdings Inc.’s holdings in Bank of Montreal were worth $3,939,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. boosted its stake in Bank of Montreal by 3.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 6,608,610 shares of the bank’s stock worth $28,632,000 after purchasing an additional 220,938 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Bank of Montreal by 3.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,323,991 shares of the bank’s stock worth $180,218,000 after buying an additional 82,688 shares during the last quarter. Fiera Capital Corp raised its position in Bank of Montreal by 43.4% during the 4th quarter. Fiera Capital Corp now owns 1,857,684 shares of the bank’s stock worth $144,057,000 after buying an additional 562,064 shares during the last quarter. Alberta Investment Management Corp raised its position in Bank of Montreal by 96.6% during the 3rd quarter. Alberta Investment Management Corp now owns 1,618,700 shares of the bank’s stock worth $119,300,000 after buying an additional 795,400 shares during the last quarter. Finally, Newport Trust Co raised its position in Bank of Montreal by 1.4% during the 3rd quarter. Newport Trust Co now owns 1,429,394 shares of the bank’s stock worth $105,418,000 after buying an additional 20,001 shares during the last quarter. Institutional investors own 41.94% of the company’s stock.
BMO opened at $76.84 on Friday. Bank of Montreal has a 12-month low of $66.42 and a 12-month high of $79.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $49.07 billion, a PE ratio of 10.79, a P/E/G ratio of 2.01 and a beta of 1.10. The firm has a 50 day moving average of $77.77 and a two-hundred day moving average of $74.68.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.7965 per share. This represents a $3.19 annualized dividend and a dividend yield of 4.15%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, January 31st. Bank of Montreal’s payout ratio is 45.07%.
A number of research firms have issued reports on BMO. Oppenheimer raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research report on Wednesday, December 4th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating and set a $109.00 price target for the company in a research report on Tuesday, December 3rd. Credit Suisse Group raised their price target on shares of Bank of Montreal from $93.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, January 18th. Finally, Zacks Investment Research raised shares of Bank of Montreal from a “sell” rating to a “hold” rating and set a $86.00 price target for the company in a research report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Bank of Montreal has an average rating of “Hold” and a consensus price target of $99.25.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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