Glassman Wealth Services Decreases Stock Holdings in Bank of Montreal (NYSE:BMO)

Glassman Wealth Services cut its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 32.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 370 shares of the bank’s stock after selling 179 shares during the quarter. Glassman Wealth Services’ holdings in Bank of Montreal were worth $37,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BMO. EverSource Wealth Advisors LLC raised its holdings in shares of Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after acquiring an additional 130 shares during the last quarter. Corient Private Wealth LLC raised its stake in Bank of Montreal by 72.6% in the 4th quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock valued at $3,226,000 after purchasing an additional 13,718 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Bank of Montreal in the 4th quarter valued at $95,299,000. Beutel Goodman & Co Ltd. boosted its stake in Bank of Montreal by 13.6% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 5,755,777 shares of the bank’s stock worth $572,303,000 after purchasing an additional 690,341 shares during the last quarter. Finally, UBS Group AG boosted its stake in Bank of Montreal by 28.9% during the 4th quarter. UBS Group AG now owns 273,483 shares of the bank’s stock worth $27,058,000 after purchasing an additional 61,280 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Trading Up 0.2 %

Shares of NYSE BMO traded up $0.20 during trading on Thursday, hitting $89.85. 778,443 shares of the company were exchanged, compared to its average volume of 741,608. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The company has a fifty day moving average price of $93.88 and a 200-day moving average price of $90.39. The firm has a market capitalization of $65.52 billion, a PE ratio of 17.15, a P/E/G ratio of 1.71 and a beta of 1.14.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its 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). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $6.34 billion. As a group, equities research analysts expect that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be given a $1.1172 dividend. This represents a $4.47 annualized dividend and a yield of 4.97%. This is a positive change 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 41.79%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, Barclays assumed coverage on Bank of Montreal in a report on Wednesday, March 20th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal has a consensus rating of “Moderate Buy” and an average target price of $131.00.

About Bank of Montreal

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.