Nicolet Advisory Services LLC Has $688,000 Position in Bank of Montreal (NYSE:BMO)

Nicolet Advisory Services LLC cut its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,540 shares of the bank’s stock after selling 378 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Bank of Montreal were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Bank of Montreal during the 2nd quarter valued at about $34,000. Rothschild Investment LLC acquired a new stake in Bank of Montreal in the second quarter valued at approximately $40,000. GHP Investment Advisors Inc. grew its position in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Bank of Montreal by 34.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

BMO opened at $94.92 on Friday. 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’s 50 day moving average price is $91.87 and its two-hundred day moving average price is $88.25. The firm has a market capitalization of $69.25 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced 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). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the firm posted $2.08 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Bank of Montreal will post 7.4 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 72.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Scotiabank lowered 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 report on Wednesday, August 28th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $119.75.

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.