Olistico Wealth LLC Invests $59,000 in Bank of Montreal (NYSE:BMO)

Olistico Wealth LLC bought a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 700 shares of the bank’s stock, valued at approximately $59,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Bank of Montreal by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 28,073,185 shares of the bank’s stock worth $2,777,561,000 after acquiring an additional 881,992 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Bank of Montreal by 72.6% during the 4th quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock valued at $3,226,000 after buying an additional 13,718 shares during the period. Bank of Nova Scotia Trust Co. boosted its stake in Bank of Montreal by 3.3% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 463,792 shares of the bank’s stock worth $45,888,000 after buying an additional 14,735 shares during the period. Intech Investment Management LLC bought a new position in Bank of Montreal during the first quarter valued at $3,997,000. Finally, Gulf International Bank UK Ltd increased its position in Bank of Montreal by 7.9% during the first quarter. Gulf International Bank UK Ltd now owns 4,535 shares of the bank’s stock valued at $442,000 after acquiring an additional 332 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Down 0.9 %

Shares of NYSE:BMO traded down $0.74 during trading on Wednesday, reaching $80.21. The stock had a trading volume of 512,759 shares, compared to its average volume of 845,343. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $58.50 billion, a P/E ratio of 13.45, a PEG ratio of 2.04 and a beta of 1.12. The firm’s 50-day simple moving average is $85.14 and its 200 day simple moving average is $90.85. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.10). The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. As a group, research analysts expect that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be given a dividend of $1.125 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio is currently 75.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. UBS Group began coverage on Bank of Montreal in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Royal Bank of Canada downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. Finally, Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.50.

Bank of Montreal Profile

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.