Curi RMB Capital LLC Makes New Investment in Bank of Montreal (NYSE:BMO)

Curi RMB Capital LLC purchased a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,264 shares of the bank’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the business. US Bancorp DE raised its stake in Bank of Montreal by 4.6% during the 1st quarter. US Bancorp DE now owns 22,797 shares of the bank’s stock valued at $2,227,000 after purchasing an additional 1,003 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Bank of Montreal by 65.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,009 shares of the bank’s stock worth $392,000 after purchasing an additional 1,591 shares during the period. Intech Investment Management LLC acquired a new position in shares of Bank of Montreal during the first quarter valued at about $3,997,000. Vanguard Group Inc. lifted its stake in shares of Bank of Montreal by 1.9% in the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock valued at $2,795,402,000 after buying an additional 544,767 shares during the period. Finally, Bahl & Gaynor Inc. acquired a new stake in Bank of Montreal during the first quarter worth about $261,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Down 0.2 %

Shares of Bank of Montreal stock opened at $93.18 on Friday. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $100.12. The stock has a market capitalization of $67.98 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 2.40 and a beta of 1.10. The company has a 50-day simple moving average of $90.88 and a 200 day simple moving average of $88.16. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

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 the consensus estimate 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 revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Research analysts expect that Bank of Montreal will post 8 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $119.75.

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.