WoodTrust Financial Corp Has $245,000 Stock Position in Bank of Montreal (NYSE:BMO)

WoodTrust Financial Corp lowered its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 90.2% during the third quarter, Holdings Channel reports. The fund owned 2,714 shares of the bank’s stock after selling 24,999 shares during the quarter. WoodTrust Financial Corp’s holdings in Bank of Montreal were worth $245,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Harvest Portfolios Group Inc. boosted its position in shares of Bank of Montreal by 1.8% in the third quarter. Harvest Portfolios Group Inc. now owns 31,812 shares of the bank’s stock worth $2,871,000 after buying an additional 554 shares during the period. Intact Investment Management Inc. grew its position in Bank of Montreal by 72.9% during the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock valued at $53,082,000 after purchasing an additional 248,098 shares in the last quarter. Van ECK Associates Corp increased its stake in Bank of Montreal by 23.0% in the 3rd quarter. Van ECK Associates Corp now owns 190,255 shares of the bank’s stock valued at $17,760,000 after buying an additional 35,614 shares during the period. REDW Wealth LLC purchased a new stake in Bank of Montreal in the 3rd quarter worth approximately $200,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Bank of Montreal by 44.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock valued at $99,000 after buying an additional 342 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMO. Barclays reduced their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their target price for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $119.75.

Bank of Montreal Stock Up 2.0 %

Shares of Bank of Montreal stock opened at $93.16 on Thursday. Bank of Montreal has a 12-month low of $76.83 and a 12-month high of $100.12. The stock has a market capitalization of $67.96 billion, a P/E ratio of 14.67, a PEG ratio of 2.33 and a beta of 1.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $89.41 and a two-hundred day moving average price of $88.07.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. Equities analysts expect that Bank of Montreal will post 8 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.82%. Bank of Montreal’s payout ratio is presently 72.13%.

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.