Ignite Planners LLC Increases Stock Position in Bank of Montreal (NYSE:BMO)

Ignite Planners LLC grew its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,780 shares of the bank’s stock after purchasing an additional 317 shares during the quarter. Ignite Planners LLC’s holdings in Bank of Montreal were worth $1,036,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Bank of Montreal during the 2nd quarter valued at $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal in the third quarter valued at $45,000. GHP Investment Advisors Inc. boosted its stake in shares of Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. increased its position in Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Bank of Montreal by 44.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock valued at $99,000 after purchasing an additional 342 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Stock Performance

NYSE BMO opened at $97.06 on Tuesday. The business’s 50-day simple moving average is $96.26 and its 200-day simple moving average is $90.34. The firm has a market capitalization of $70.82 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.42 and a beta of 1.09. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s payout ratio is currently 63.18%.

Wall Street Analyst Weigh In

BMO has been the subject of a number of analyst reports. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average price target of $128.00.

Bank of Montreal Company 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.